Economics · Development Economics Models
According to the Lewis Dual-Sector Model, the process of surplus labor transfer from traditional agriculture to the modern sector continues until:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Capital accumulation in the industrial sector completely stops
- 2The government intervenes to regulate wages
- 3All surplus rural labor is absorbed into the industrial sector✓
- 4Industrial wages fall due to excess labor supply
Correct answer
All surplus rural labor is absorbed into the industrial sector
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