The Figures Given Below Show the Demand (D)and Supply (S)

question 8

Multiple Choice

The figures given below show the demand (D) and supply (S) curves of labor in two different markets.Figure 16.3

-A large number of U.S. firms send jobs to low-wage nations as it enables them to:

• A)raise the price of their products.
• B)reduce their cost of production.
• C)get better quality products.
• D)obtain diversified products.
• E)politically dominate the economies where they are offshoring.

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Definitions:

Navigation Act

Laws passed by the British government in the 17th and 18th centuries regulating trade and commerce in the British Empire, aimed at promoting British shipping and controlling colonial trade.

Mercantilism

Policy of Great Britain and other imperial powers of regulating the economies of colonies to benefit the mother country.

Royal Navy

The naval warfare service branch of the United Kingdom, known for its historic role in British colonialism and major global conflicts.

Fundamental Constitutions

Originally designed as the governing document of the Carolina Colony, outlining the structure of its government and the rights of its colonists.