Which of the Following Statements Is True About International Trade

question 185

Multiple Choice

Which of the following statements is true about international trade?

• A) In the long-run, trade not only reduces employment in some sectors but also reduces employment in the economy as a whole.
• B) In the short-run, trade can reduce employment in some sectors and also in the economy as a whole.
• C) Owners of factors of production used in industries in which a nation lacks a comparative advantage are more likely to gain from trade than those owners of resources used in industries in which a country has a comparative advantage.
• D) Countries with relatively higher wage rates are more likely to be hurt by international trade.

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Definitions:

Sterile Areas

Zones in a medical facility designed to be free from microorganisms to prevent infection.

Critical Item

An essential or highly important element, object, or factor in a particular context or situation.

Endoscope

A medical instrument consisting of a long, thin, flexible tube with a light and a video camera, used to view the interior of a hollow organ or cavity in the body.

Personal Protective Equipment

Equipment worn to minimize exposure to hazards that cause serious workplace injuries and illnesses, which may include gloves, helmets, goggles, etc.