Which of the following is true about outsourcing and labor migration:
A. Unrestricted out-sourcing and unrestricted labor migration result in the same wage outcomes in tradable goods markets (as long as there are no barriers to trade).
B. Under outsourcing, pressures for wage equalization arise from shifts in labor demand curves.
C. Under labor migration, pressures for wage equalization arise from shifts in labor supply curves.
D. Both (a) and (c)
E. Both (b) and (c)
F. Both (a) and (b)
G. All of the above
H. None of the above
Answer: G
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In the above figure, the firm is a monopolistically competitive firm. In the long run, its economic profit will be
A) zero. B) between zero and $50 per day. C) greater than $50 per day. D) some amount that cannot be determined without more information.
Which of the following environmental problems are largely caused by persistent poverty?
(a) Deforestation. (b) Soil erosion. (c) Ground water contamination. (d) All of the above.