For U.S. workers in tradable sectors such as manufacturing, the effect of globalization has been:
A. to reduce unemployment in this group while leaving wage rates about the same.
B. to push wages down or leave them unemployed.
C. to cause greater upward mobility for those workers while reducing downward mobility.
D. to push wages up relative to those in nontradable sectors such as government or service workers.
Answer: B
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Refer to the data. Gross domestic product is:
A. $395.
B. $380.
C. $375.
D. $360.
Economic growth may face environmental limits because:
A. the market mechanism mobilizes resources to deal with shortages. B. economic growth may lead to less, not more, pollution. C. global environmental problems are not handled by markets or national governments. D. economic growth can take the form of new, different, and "cleaner" goods and services.