Examlex
A decrease in the wages of truck drivers might be explained by which of the following factors?
International Trade
The exchange of goods, services, and capital between countries or territories, influenced by agreements, tariffs, and global economic policies.
Autarky Price
The price of a good or service within a country when it is completely self-sufficient and not engaged in international trade.
World Price
The international price at which goods are traded between countries, influencing domestic prices and the balance of trade.
Comparative Advantage
The ability of a country or entity to produce a specific good or service at a lower opportunity cost than others, leading to specialization in trade.
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