Which of the following statements explains why trading partners are often concerned about each other's labor standards?

I. From a humanitarian perspective, people do not want to buy products if workers are in oppressive conditions.
II. Unions realize that low standards for labor will be less costly, and those products will compete more effectively with products produced at home.
III, Some nations do not enforce their own lax labor standards, but have also signed on to trade agreements.
a. I
b. II
c. II and III
d. I, II, and III


Ans: d. I, II, and III

Economics

You might also like to view...

Rising inflation is the pressing concern of the government of Greatland. Suggest a suitable monetary policy that the Central Bank should adopt to lower the rate of inflation

What will be an ideal response?

Economics

An HVAC company is selling heating and cooling equipment. It has separate sales and marketing units. The marketing unit would want to

a. Price aggressively to ensure sales are made b. Price less aggressively to ensure that profitable sales are made c. Price at cost to maximize sales d. None of the above

Economics

Disclosing information in more usable ways to decision-makers:

A. can decrease the occurrence of rational ignorance in decision-making. B. can nudge people toward making better decisions. C. has been useful to organizations like the EPA in getting desired outcomes, like people deciding to buy more gas-efficient cars. D. All of these statements are true.

Economics

In the federal penitentiary at Lompoc, California, inmates used packages of mackerel to buy items such as haircuts at the prison barber shop and laundry services. What function do these packages of mackerel serve?

A) They functioned as money. B) They served as a corruption deterrent. C) They enabled prison officers to monitor illegal money flows. D) They forced prisoners to engage in barter.

Economics