Economists believe that layoffs and wage declines due to
Increased imports:
A)are the most critical problem facing the economy today.
B)may be caused by factors such as changing technology and changing demands for workers rather
Than by increased imports.
C)should be addressed by the WTO, which usually ignores such issues.
D)are so minor that we may safely ignore them.

Question

Quizplus · Accepted Answer

While increased imports may contribute to layoffs and wage declines in certain industries, it is not the sole cause. Other factors such as technological advancements and changing demands for workers also play a role. Additionally, the World Trade Organization (WTO) primarily focuses on trade agreements, not individual countries' labor policies. Therefore, option B is the most accurate choice. Option A and D are incorrect as they are extreme and do not provide a nuanced view of the situation. Option C is also incorrect since the WTO does not typically address domestic labor issues.

Economists Believe That Layoffs and Wage Declines Due to