Which of the following statements is true about international trade?
A) In the long-run, trade not only reduces employment in some sectors but also reduces employment in the economy as a whole.
B) In the short-run, trade can reduces employment in some sectors and also in the economy as a whole.
C) Owners of factors of production used in industries in which a nation lacks a comparative advantage are more likely to gain from trade than those owners of resources used in industries in which a country has a comparative advantage.
D) Countries with relatively higher wage rates are more likely to be hurt by international trade.
Correct Answer:
Verified
Q2: A country has a comparative advantage if
Q3: Which of the following is an example
Q4: If each nation specializes and produces those
Q5: What is a quota?
A)a restriction on exports
B)a
Q7: Suppose the U.S.imposes an import quota on
Q8: Comparative advantage in production of a good
Q8: Which of the following is not a
Q9: Given that countries A and B each
Q11: What is a tariff?
A)a restriction on exports
B)a
Q17: Which of the following statements is false?
A)
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