Question: Producing socks is labor-intensive, while producing satellites is capital-intensive. If India has abundant labor, and the U.S. has abundant capital, which good will the U.S.

Producing socks is labor-intensive, while producing satellites is capital-intensive. If India has abundant labor, and the U.S. has abundant capital, which good will the U.S. export? Is trade beneficial to textile laborers in the U.S.?

Step by Step Solution

3.40 Rating (175 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

If India has abundant labor and the US has abundant capital the US will e... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

683-B-E-M-E (3910).docx

120 KBs Word File

Students Have Also Explored These Related Economics Questions!