The rapid growth of China's economy relative to Canada's has benefitted Canadian consumers because
A)competition from China has made jobs harder to find in Canada.
B)Canadian consumers can purchase more lower-priced goods made in China.
C)Canada has comparative advantage in more goods than China does.
D)goods made in China are always of higher quality than goods made in Canada.
E)Canadian consumers no longer have access to Canadian made goods.

Question

Quizplus · Accepted Answer

The rapid growth of China's economy has led to an increase in the production and export of goods, including lower-priced goods. As a result, Canadian consumers have been able to purchase more lower-priced goods made in China, which has benefitted them. However, this growth has not necessarily made it harder to find jobs in Canada, and China does not necessarily have a comparative advantage in fewer goods than Canada. It is also not necessarily true that goods made in China are always of higher quality than goods made in Canada, and Canadian consumers still have access to Canadian-made goods.

The Rapid Growth of China's Economy Relative to Canada's Has