Developing countries are usually unwilling to negotiate over labor standards because
A) the WTO always tends to rule in favor of industrialized nations.
B) they fear that industrialized nations are trying to undermine their comparative advantage—production of agriculture and textiles/apparel—and close the markets of high-income countries in these areas.
C) they fear that they may be unable to compete without some protection of their industries.
D) organized labor would not allow them to negotiate with other countries.
B
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In general, a bank that held excess reserves would earn lower profits as a result
a. True b. False Indicate whether the statement is true or false
In the United States, when the outflow of dollars to pay for our imports of goods from Japan exceeds the inflow of dollars earned by our exports to Japan, typically
a. the dollar appreciates b. the United States can buy back some of its assets that are held by the Japanese c. this is merely a statistical discrepancy because the trade with Japan (exports and imports) must net out to zero d. the United States can use its reserves of yen to cover the difference e. the Japanese can borrow the needed dollars through the foreign exchange market
Which of the following statements best expresses a firm's profit-maximizing decision rule?
a. If marginal revenue is greater than marginal cost, the firm should increase its output. b. If marginal revenue is less than marginal cost, the firm should shut down in the short run. c. If marginal revenue equals marginal cost, the firm should produce exactly one more unit of output. d. All of the above are correct.
Aggregate expenditure means total or combined spending.
a. true b. false