The belief that importing goods from low-wage countries will hurt the standard of living of workers in the importing country is known as the:

Question

Quizplus · Accepted Answer

The pauper labor fallacy is the belief that importing goods from low-wage countries will hurt the standard of living of workers in the importing country. This is a misconception as trade benefits both the importing and exporting countries by allowing them to specialize in their respective areas of comparative advantage and generate more economic growth.

The Belief That Importing Goods from Low-Wage Countries Will Hurt