Which statement is generally NOT true with regard to the effect of trade on wages in developing
Question:
Which statement is generally NOT true with regard to the effect of trade on wages in developing countries?
A. | Working conditions, although often less pleasant than in developed nations, are generally improved with foreign investment. | |
B. | Foreign companies tend to reduce the overall number of jobs available in developing countries. | |
C. | Wages offered by foreign companies are generally higher than wages offered by local companies. | |
D. | Foreign companies generally pay lower wages in developing countries than they do back home. |
64.
Which of these typically occurs when a new tariff is imposed on the import of foreign-made steel as a result of a national defense argument?
A. | Consumers will pay higher prices while deadweight loss is reduced. | |
B. | Consumers will pay lower prices while deadweight loss is created. | |
C. | Consumers will pay higher prices while deadweight loss is created. | |
D. | Consumers will pay lower prices while deadweight loss is reduced. |
65.
Which statement is not a common argument against free trade?
A. | It causes prices of imported goods to rise. | |
B. | It causes environmental damage due to fewer regulations abroad. | |
C. | It causes jobs to be lost to foreign competition. | |
D. | It prevents infant industries from becoming competitive in world markets. |
66.
Assume the market for ball bearings is perfectly competitive. Currently, each of the firms in this market is making a positive level of economic profits. In the long run, we can expect the market
supply to decrease | ||
demand to increase | ||
supply to increase | ||
demand to decrease |
67.
Deadweight loss measures the inefficiency as the loss of
consumer surplus minus producer surplus. | ||
consumer surplus plus producer surplus. | ||
producer surplus only. | ||
consumer surplus only. |