Economists conclude that the effect on our world's standard of living as a result of labor and capital migration has been:
A) negative overall.
B) positive overall as resources move to their highest-valued use.
C) positive in some respects but very harmful in the long run to workers.
D) so small worldwide that the effect is not worth measuring.

Question

Quizplus · Accepted Answer

Economists generally agree that labor and capital migration have a positive overall effect on the world's standard of living. This is because resources are being allocated to their highest-valued use, leading to increased efficiency and productivity. However, there may be short-term negative effects on some workers who lose their jobs or face wage competition. Nevertheless, in the long run, the benefits of increased economic growth and innovation outweigh these costs.

Economists Conclude That the Effect on Our World's Standard of Living