Your roommate Hansen argues that American producers cannot compete with foreign producers because wages are lower in foreign countries than in the United States. Hansen Select one: a. is correct in arguing that the high wages of U.S. workers make it impossible to compete with workers in low- wage countries. b. is incorrect. Free trade raises living standards by increasing economic efficiency. c. is right in asserting the need to protect high wages if the United States wishes to maintain its high standard of living. d. is advancing the anti-dumping argument for protectionism.
Your roommate Hansen argues that American producers cannot compete with foreign producers because wages are lower in foreign countries than in the United States. Hansen Select one: a. is correct in arguing that the high wages of U.S. workers make it impossible to compete with workers in low- wage countries. b. is incorrect. Free trade raises living standards by increasing economic efficiency. c. is right in asserting the need to protect high wages if the United States wishes to maintain its high standard of living. d. is advancing the anti-dumping argument for protectionism.
Chapter20: International Trade
Section: Chapter Questions
Problem 11QP
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Transcribed Image Text:Your roommate Hansen argues that American producers cannot compete with foreign producers because wages are
lower in foreign countries than in the United States. Hansen
Select one:
a. is correct in arguing that the high wages of U.S. workers make it impossible to compete with workers in low-
wage countries.
b.
is incorrect. Free trade raises living standards by increasing economic efficiency.
c. is right in asserting the need to protect high wages if the United States wishes to maintain its high standard
of living.
d. is advancing the anti-dumping argument for protectionism.
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