The Long-Run Decline in the Relative Price of Primary Products

question 32

True/False

The long-run decline in the relative price of primary products is a strong reason for developing countries to avoid exporting primary products.

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Definitions:

Union Dues

Fees paid by members to labor unions for the support of union activities, including negotiations, legal representation, and other services.

Political Activity

Participation in any action aimed at influencing government policy or decisions, ranging from voting and lobbying to activism and public demonstration.

State Collective Bargaining Laws

Legislation at the state level that governs collective bargaining rights and processes for public and private sector employees.

Strikes

A work stoppage caused by the mass refusal of employees to work, typically aiming to enforce demands regarding employment conditions.