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Which of the following is an important consideration in short run factor-proportions trade analysis?
a. Comparative advantages only occur in theory.
b. Specific factors are always free to move intra-industrially.
c. In the real world, wage and rent earnings are differentiated in the short run.
d. Gains from trade are always greater in the long run.
Over the last year both the supply and demand for oil in the US has gone up. What might have caused this and what happened to the price and quantity of oil?
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