Race to the bottom refers to which of the following?
A) Firms have an incentive to relocate to countries with lower standards.
B) Countries have an incentive to conform to the standards of the lowest income country.
C) Countries will compete with each other to offer incentives to firms.
D) Firms will underpay workers in low income countries.
A
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Which of the following is NOT included in real GDP?
A) production of services, such as the services of hair dressers B) production of goods that last less than a year, such as production of hot dogs C) production that takes place in the underground economy D) production of goods that last more than a year, such as a pair of roller blades
An increase in U.S. imports from Mexico will cause a decrease in income for Mexican individuals and businesses
a. True b. False Indicate whether the statement is true or false