For a Product That Is Traded Internationally, with Low Trade

question 132

Multiple Choice

For a product that is traded internationally, with low trade costs, such as a DVD player, competition dictates that workers involved in manufacturing that good will:

• A) probably not get the full value of their marginal products.
• B) earn higher wages if trade does not force them to compete with low-cost foreign workers.
• C) earn wages that are determined by their productivity.
• D) lose their jobs if there are higher international product standards.

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Definitions:

Jury

A group of people sworn to render a verdict or decision in a legal case based on the evidence presented to them.

Informal Rulemaking

A process used by government agencies to create regulations through a less formal procedure that usually involves publishing a proposed rule, allowing public comment, and then issuing a final rule.

APA

Acronym for American Psychological Association, a major scientific and professional organization of psychologists in the United States, or referring to its publication style guide.

Proposed Rule

A suggested regulation or policy that is under consideration but has not yet been adopted or implemented.