Suppose a country where capital is scarce and most of the industry is labor-intensive with low-skilled labor

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Suppose a country where capital is scarce and most of the industry is labor-intensive with low-skilled labor moves from autarky to free trade. Which of the following do you expect to happen? Check all that apply.

a. Owners of capital become wealthier.

b. Wages for labor increase.

c. The returns to capital (surplus) decrease.

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Microeconomics

ISBN: 978-1259813337

2nd edition

Authors: Dean S. Karlan, Jonathan J. Morduch

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Question Posted: Oct 03, 2018 01:44 PM

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Suppose a country where capital is scarce and most of the industry is labor-intensive with low-skilled labor

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Microeconomics

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