In the Long Run, Foreign Labor Remains Cheap When and If

question 92

Multiple Choice

In the long run, foreign labor remains cheap when and if

• A)it becomes highly efficient and competes successfully internationally.
• B)countries erect barriers to trade between poor countries.
• C)productivity increases more rapidly in poor countries than in rich countries.
• D)it remains inefficient compared to other countries' labor.

---

Definitions:

Job Insecurity

The lack of certainty about one's employment status, including the risk of unemployment or underemployment.

Geographical Arbitrage

The practice of taking advantage of price differences between geographic locations by buying low in one area and selling high in another.

Post-Fordist Organizations

Refer to a shift in organizational structures emphasizing flexibility, innovation, and decentralized decision-making, moving away from mass production and rigid hierarchies characteristic of the Fordist era.

Corporate Control

The governance and oversight mechanisms in place within corporations to direct and manage their operations.