Based on the Specific Factors model, if the labor is a non-specific factor and can move between industries, then after trade, _______.
Based on the Specific Factors model, if the labor is a non-specific factor and can move between industries, then after trade, _______.
worker's real income will increase, and workers will be better off for sure.
we can't tell how worker's real income change, it depends on how a worker spends his/her budget and real wage change will be ambiguous.
worker's real income will decrease, and workers will be worse off for sure