Opening trade between a nation that has “cheap labor” and one that has “expensive labor” will
A. lower the standard of living in both countries.
B. raise the standard of living in both countries.
C. make some workers less efficient.
D. lead to an inappropriate allocation of resources.
Answer: B
Economics
You might also like to view...
Recall the Application. If the decrease in price of illegal drugs is primarily due to a change in supply, the equilibrium quantity of drugs
A) will increase. B) will decrease. C) will not change. D) may or may not change.
Economics
If the level of technology rises from 8 to 8.2 in one period, the growth rate of technology is ________
A) 2.5 percent B) 20 percent C) two percent D) 0.2 percent
Economics