Some observers opposing free trade argue that when we buy shoes from Brazil, U.S. workers lose their jobs. The fact of the matter is that
A) no U.S. worker has actually lost a job because of free trade.
B) most jobs lost because of free trade pay less than the poverty level.
C) free trade creates jobs in export industries.
D) the jobs lost are really in Brazil.
C
You might also like to view...
The substitution effect shows that when the wage rate increases
a. an additional hour of labor is not worth pursuing. b. an additional hour of leisure is now less costly in terms of foregone consumption. c. an additional hour of leisure is now more expensive in terms of foregone consumption. d. there will be intertemporal substitution.
If the price of gasoline rises, when is the price elasticity of demand likely to be the highest?
a. immediately after the price increases b. one month after the price increase c. three months after the price increase d. one year after the price increase
The largest portion of any nation's balance of payments current account is the
A) importing and exporting of merchandise goods. B) importing and exporting of services. C) importing and exporting of gold. D) importing and exporting of capital goods.
Which one of the following statements is FALSE?
A) There is an inverse (negative) relationship between product price and quantity supplied. B) There is some price at which quantity supplied of a product is zero. C) As product price increases, producers are willing to put more of the good on the market for sale. D) In order to entice producers to offer more of a product on the market for sale, product price must rise.