Developing countries are usually unwilling to negotiate over labor standards because
A) the WTO always tends to rule in favor of industrialized nations.
B) they fear that industrialized nations are trying to undermine their comparative advantage—production of agriculture and textiles/apparel—and close the markets of high-income countries in these areas.
C) they fear that they may be unable to compete without some protection of their industries.
D) organized labor would not allow them to negotiate with other countries.
B
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The figure above shows the market for milk. If the efficient quantity of milk is produced, the producer surplus is
A) $100. B) $400. C) $200. D) $600.
In the market for used cars we have 10 sellers, willing to sell at the prices of $1000 . $2000 . $3000 . $4000 . $5000 . $6000 . $7000 . $8000 . $9000 . $10000 . What could the market price be in order to induce five sellers to offer their cars for sale?
a. $4001 b. $5001 c. $6001 d. $7001