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:

Transactional Leadership

A leadership style focused on the supervision, organization, and performance of a group or organization, often involving a system of rewards and penalties.

Leadership

The art of motivating a group of people towards achieving a common goal.

Management Development

A systematic process of training and growth by which individuals improve their management skills and competencies.

Research Evidence

Data, information, or facts that are systematically collected and analyzed to support or refute a hypothesis, theory, or knowledge claim within a scientific study or investigation.