Which of the following statements is true?
A. Free trade will benefit all workers in a nation equally.
B. As a result of specialization some workers will be displaced and harmed in the short run by free trade.
C. Free trade leads to lower wages for all workers in both nations.
D. Specialization will result in a decline in an industry and none of those workers will be able to find other jobs.
Answer: B
You might also like to view...
In the circular flow model,
A) the government has no direct interaction with either households or firms. B) the government is represented as a separate market. C) the government buys goods and services from firms. D) goods and services are sold by households and purchased by firms. E) factor markets are where goods rather than services are bought and sold.
At the current level of output, the marginal social benefit of pizza exceeds the marginal social cost of pizza. Compared to the allocatively efficient quantity, we are producing too ________ pizza and too ________ of other goods
A) much; little B) much; much C) little; little D) little; much
The three basic categories of resources are land, labor, and:
a. money. b. time. c. energy. d. capital.
An insured person's incentive to behave in ways that raise the probability of a claim is known as:
a. a moral hazard. b. the lemons problem. c. the problem of adverse selection. d. the problem of advantageous selection.