If Movement of Labor Across Countries Is Costless and Painless

question 33

Multiple Choice

If movement of labor across countries is costless and painless, it can be expected that:

• A)all the countries in the world will operate at the full employment level.
• B)the wage rates in the countries will equalize over time.
• C)the rate of unemployment will fall to zero in all the countries.
• D)the GDP of the countries will equalize over time.

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Definitions:

Culture Wars

Conflicts between cultural values and societal norms, often characterized by debates over morality, religion, and lifestyle choices.

Domestic Social Politics

The aspect of politics dealing with issues affecting individuals' lives within a country, including education, healthcare, and social welfare.

Globalizing Trends

The processes by which businesses or other organizations develop international influence or start operating on an international scale, often driven by advancements in communication and transportation.

Exxon Valdez

An oil tanker whose 1989 spill off the coast of Alaska caused one of the worst environmental disasters in U.S. history.