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Holding other factors constant, if computers allow factory workers to manufacture more products per hour, then the real wages of factory workers will ________ and employment of factory workers will ________.
Multilateral Organization
An international organization comprised of multiple countries that work together on common objectives or issues.
Free Trade Agreements
Pacts between countries to reduce trade barriers and encourage importing and exporting goods.
Ratify
To formally approve or confirm an agreement or treaty, making it officially valid.
World Trade Organization
An international body that deals with the rules of trade between nations, aiming to ensure that global trade flows smoothly, predictably, and freely.
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