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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

Does international trade, taken as a whole, increase the total number of jobs, decrease the total number of jobs, or leave the total number of jobs about the same?

To determine

To study: When entire international trade is considered, whether the total number of jobs increases, decreases or stays the same.

Explanation

International trade is the exchange of goods and services across borders. It is generally presumed that if a nation opens to trade, it would lead to decrease in the number of jobs in home country. Considering the case where US entered into trade agreement with Mexico. Mexico had cheaper labor, so, it was expected that employers in US would move to Mexico and the number of jobs in US would fall...

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