In the Short-Run, Following the Opening of Trade

question 20

Multiple Choice

In the short-run, following the opening of trade:

• A)workers in the country can change jobs but will receive the same wage.
• B)workers will suffer from lower wages but land owners will benefit from higher rents.
• C)all groups tied to declining sectors of the economy will suffer from lower returns.
• D)gross output remains constant.

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Definitions:

Chief Communications Officer

A senior executive responsible for managing and directing an organization's internal and external communications strategies and efforts.

Public Relations

The method of strategic messaging that enhances reciprocal relations between institutions and their communities.

Public Affairs

A field focused on building and maintaining relationships between an organization and the public, including handling PR, communication strategies, and community engagement.

Stakeholders

People or organizations who have a “stake” in a company/organization, including employees, voters, government agencies and elected officials, customers, prospective employees, as well as customers and other similar individuals.