In Theory, Some People Might Lose in the Short Run

question 107

Multiple Choice

In theory, some people might lose in the short run from outsourcing, but in the long run, all should benefit. Which option demonstrates that this theory might not be true?

• A) Lower labor costs lead to lower prices, so more foreigners can buy imports.
• B) Income earned at outsourced jobs allows foreign workers to purchase imports.
• C) Lower prices allow more consumers to buy the good domestically.
• D) Outsourcing stimulates competition.
• E) Inadequate transition programs hinder the ability of domestic workers, who lost their jobs to outsourcing, to obtain new jobs.

Analyze the concept of contingent truth and its implications.

Assess arguments related to the nature and source of knowledge.

Discuss the historical and power dynamics involved in the formation of knowledge.

Understand the significance of empirical evidence in the scientific method.

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Definitions:

Narcissism

A personality trait characterized by an inflated sense of self-importance and a deep need for admiration.

Individualism

An approach in social thinking that values the independence of individuals more than the dominion of collective institutions or government.

Personal Freedom

The ability of an individual to make choices and act upon them independently, without undue influence or restraint from external forces.

Collectivist Cultures

Societies that prioritize the group over individual interests, emphasizing interdependence, cooperation, and social harmony.