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.

---

Definitions:

Rental Arrears

The amount of money owed by a tenant for rent that has not been paid by the due date.

Seize and Sell

A legal process where authorities or creditors take and then sell the assets of a debtor to recover owed money.

Water Purifier

A water purifier is a device that removes impurities and contaminants from water, making it safe for drinking and other uses.

Lease Expiry

The end of a lease agreement term, after which the lessee must vacate the property or negotiate a renewal of the lease.