Derland is a modern economy with a highly educated labor force and an average wage of $50,000 per year. Samland is a poor country where the labor force has an average education level of 5 years of schooling and an average wage of $600 per year. Which trade policy would be likely to have the most long-run impact in raising wages in Samland?
A) free trade
B) Derland imposing import quotas on foreign-produced products
C) Derland imposing tariffs on imported necessities
D) Samland creating new regulations to increase environmental protection
Correct Answer:
Verified
Q21: Increased trade
A) deprives poor countries of the
Q165: Because a country does not want to
Q166: The automobile industry in Macroland successfully lobbies
Q167: Antiglobalization activists are opposed to increased trade
Q168: In the long run, the liberalization of
Q170: Which of these is a policy designed
Q171: Which of these is NOT a globalization
Q171: The Trade Adjustment Assistance (TAA) program is
Q172: Bhagwati and Hudec argue that globalization is
Q174: If countries move from highly restricted trade
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents