Question: 39. Factor trade endowment theory predicts that the less-developed (or labor-abundant) country will specialize in the labor-intensive good. Primary products are often labor intensive and

39. Factor trade endowment theory predicts that the less-developed (or labor-abundant) country will specialize in the labor-intensive good. Primary products are often labor intensive and thus the theory predicts that developing countries will specialize in them. What problem does the Prebisch-Singer hypothesis raise about primary exports? Provide your answer in 2-3 sentences (3 points)

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