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(Solved): Home is the labor-abundant country. From these few facts, it can be asserted that before trade ...



Home is the​ labor-abundant country. From these few​ facts, it can be asserted that before trade Part 2 A. in​ Home, workers earn​ less, land earns​ more, and the relative price of coal is lower than in Foreign. Your answer is correct.B. in​ Foreign, workers earn​ less, land earns​ more, and the relative price of coal is lower than in Home. C. in​ Home, workers earn​ more, land earns​ less, and the relative price of coal is higher than in Foreign. D. in​ Home, workers earn​ less, land earns​ more, and the relative price of coal is higher than in Foreign. Part 3 According to the​ model, the establishment of trade between Home and Foreign will ultimately bring A. an equalization of the relative prices of goods but a continued difference in factor prices. B. an equalization of factor prices but a continued difference in the relative prices of goods. C. an equalization of both the relative prices of goods and factor prices. D. continued differences in both the relative prices of goods and factor prices.



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