An argument against the use of tariffs to keep out the production of "cheap" foreign labor is that:
A) wage rates and labor productivity are directly related.
B) product prices and labor costs are unrelated.
C) there is no significant relationship between labor productivity and wage levels.
D) they don't work.
Ans: A) wage rates and labor productivity are directly related.
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The exchange rate last month was $1= 3.2 Swiss francs. This month it is $1 = 3.12 Swiss francs. We can say that the value of the dollar
A) fell, causing net exports to increase and aggregate demand to rise. B) fell, causing net exports to decrease and aggregate demand to fall. C) increased, causing net exports to decrease and aggregate demand to fall. D) increased, causing net exports to decrease and aggregate demand to rise.
The demand for loanable funds curve is downward sloping because
a. as the interest rate falls business firms demand fewer loanable funds b. as the interest rate falls business firms demand more loanable funds c. as the interest rate rises business firms demand more loanable funds d. as the interest rate rises, the government demands more loanable funds e. as the interest rate rises, the government demands fewer loanable funds