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Statement I: The most potent argument against globalization is that workers in poorer countries are exploited to produce goods that are shipped to relatively rich countries.
Statement II: Most economists are against globalization.
Labor Market
The marketplace where employers find workers and workers find jobs, characterized by the supply and demand for labor.
Plumbers
Skilled tradespeople who install, maintain, and repair water, gas, and other piping systems in homes and businesses.
Factor Market
The marketplace for services of factors of production (like labor, land, and capital) where firms buy resources needed to produce goods and services.
Electricians
Skilled workers specialized in installing, maintaining, and repairing electrical systems and equipment.
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