(Appendix) If Relative Income Standing and Job Safety Both Matter

question 2

Multiple Choice

(Appendix) If relative income standing and job safety both matter, then

• A)a prisoner dilemma problem may result where optimality requires collusion or a law requiring cooperation.
• B)a free market environment for choosing both objectives can bring optimality.
• C)if no legislation occurs, workers will be unsafe and less equal in income standing.
• D)workers will always be able to find the best suitable job.

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Definitions:

Labor-Intensive

A process or industry that requires a large amount of labor to produce its goods or services, typically compared to the amount of capital required.

Labor-Abundant

Referring to countries or regions that have a high supply of labor relative to capital, often resulting in lower labor costs.

World Trade Organization

An international organization that regulates international trade and ensures the smooth and free flow of trade between countries.

Trade Policy

Government regulations and strategies that determine how a country conducts trade with other nations, including tariffs, trade agreements, and import/export controls.