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factor of production |
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factor of production
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? Mentioned in | ? References in periodicals archive | ||
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| Galvin's suggestion that the WTO URAA green box category restrictions against relating farm income to type, volume of production, prices and factors of production is based on a very narrow interpretation of the language. This is because according to the structure of the classical production function, changes in the factors of production being used have feedback effect on each other. The economists' argument in favour of trade relies on the idea that the factors of production should be freely reallocated to their most efficient uses. |
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