Producers in import-competing industries often make the following argument: Other countries have an advantage in production of
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Producers in import-competing industries often make the following argument: “Other countries have an advantage in production of certain goods purely because workers abroad are paid lower wages. In fact, North American workers are much more productive than foreign workers. So import-competing industries need to be protected.” Is this a valid argument? Explain your answer.
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Related Book For
Macroeconomics
ISBN: 978-1319120054
3rd Canadian edition
Authors: Paul Krugman, Robin Wells, Iris Au, Jack Parkinson
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