q suppose the relative price of good 1 falls, International Economics

+44 141 628 6080
[email protected]

q suppose the relative price of good 1 falls

Q. Suppose the relative price of good 1 falls relative to the price of. What happens to the wage rate?

Answer: The labour component of the price of 1 is bigger than that of product 2. Therefore a fall in the comparative price of 1 will lower the demand for labour and will result in a decrease in the wage rate.

Request for Solution File

Ask an Expert for Answer!!

International Economics: q suppose the relative price of good 1 falls

Reference No:- TGS0308024

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Asked Questions

Understanding that most employment in america is at will

Many people don't understand that most employment in America is "at will", which means you can quit whenever you want and you can get fired

Do todays policymakers truly represent the general public

Do you think that today's policymakers truly represent the general public? or Do they represent special interest groups and the elite population?

How practitioner is engaging in advocacy training

Advocacy consists of the purposive efforts to change specific existing or proposed policies or practices on behalf of or with a specific client or group of clie

Is our society more accepting of some immigrant groups

Is our society more accepting of some immigrant groups than others? Explain your answer.

How local planning process impact economic development

How does the local planning process impact economic development in your chosen community?

How amendments provides freedoms

How can i reply to this? In the U.S. Constitution, none of the amendments outline verbatim that "we have a right to privacy." Privacy is a subjective

Describe how supreme court has identified and interpreted

Describe how the Supreme Court has identified and interpreted the right to privacy. Which of the following statements regarding the Supreme Court's decisions

Request for Solution File

Ask an Expert for Answer!!

International Economics: q suppose the relative price of good 1 falls

Reference No:- TGS0308024

Have a Question? (oR Write a Review)

Recent Questions Asked International Economics

Q : q even though it is very clear in the context of

Q : next fit algorithmhere scanning starts from the

Q : best fit algorithmhere scanning is for the finest

Q : q in 1986 the price of oil on world markets

Q : q suppose the relative price of good 1 falls

Q : q calculate the effects of the fall in the

Q : q a good cannot be both land- and

Q : q no country is abundant in everything

Q : q there is frequently a conflict between