What evidence is there as to job gains and losses in the U.S. due to free trade agreements?
What will be an ideal response?
Estimates of job gains or losses are mixed and not definitive. Within five years of NAFTA's implementation, the estimates ranged from a net loss of 98,000 a year to a net gain of 42,000 a year. Actual estimates of the number of jobs gained or lost are closer to guesses due to the difficulties in estimation. Pro-trade think tanks and scholars usually show job gains, while anti-trade think tanks show job losses. Neither side of the debate can show large job gains or losses in the United States due to trade agreements.
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A complement is a good
A) of lower quality than another good. B) used in conjunction with another good. C) used instead of another good. D) of higher quality than another good.
If MC > MR,
A. output should be reduced. B. marginal profit is positive. C. there are losses. D. output should be increased.
Saving is
A) the amount one does not consume in a given period of time while savings is the accumulation of past periods of saving. B) the accumulation of past periods of savings while savings is the amount of disposable income that is not consumed in a given period of time. C) the difference between real GDP and disposable income while savings is the difference between disposable income and consumption spending. D) the difference between disposable income and spending on goods and services while savings is the difference between real GDP and disposable income.
Frictional unemployment is:
A. a mismatch between the skills workers can offer and the skills that are in demand. B. unemployment caused by workers who are changing their location, job, or career. C. the effect of wages remaining persistently above the market-clearing level. D. the most alarming cause of unemployment.