A Common Economically Unfounded Fear Held by Laypeople Is That

question 87

Multiple Choice

A common economically unfounded fear held by laypeople is that:

• A) globalization will result in the United States losing most jobs because wages are so much higher in the United States.
• B) globalization will result in dramatically higher prices because most services will be outsourced.
• C) the United States has a comparative advantage in the production of all goods.
• D) a U.S. trade surplus will result in a dramatically lower dollar.

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Definitions:

Psychotic

Relating to psychosis, a mental state characterized by a disconnection from reality, which may include hallucinations and delusions.

Disordered Thoughts

A condition often reflected as fragmented or disconnected thoughts, typically associated with mental health disorders.

Removed From Reality

A phrase describing a state or condition in which an individual is out of touch with the physical world or current circumstances.

Delusion

A false belief or judgment, often of a paranoid or grandiose nature, that is maintained despite being contradicted by reality or rational argument.