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International Economics 13th Edition by Robert Carbaugh
Edition 13ISBN: 978-1439038949International Economics 13th Edition by Robert Carbaugh
Edition 13ISBN: 978-1439038949 Exercise 1
What significance does growing economic interdependence have for a country like the United States?
Explanation
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For an industrialized nation such as the United States, increased economic interdependence benefits the country by allowing American firms to offshore jobs to developing nations with lower labor costs. This reduces the cost of production for certain industries and give domestic consumers access to lower-priced goods and services. In addition, American consumers have greater access to foreign goods could select from a wider range of products through the international market. The growing economic interdependence also results in higher levels of investments in the United States from foreign investors, leading an increase in total output.
International Economics 13th Edition by Robert Carbaugh
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