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Understanding the Impacts of Free Trade on Workers and the Environment

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Understanding the Impacts of Free Trade on Workers and the Environment

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Questions and Answers

What aspect does the analysis of absolute advantage and comparative advantage focus on?

Natural resources

Capital

Labor (correct)

Technology

In the text, why do activists and protesters complain about trade?

Because trade has no effect on workers in developing countries.

Because trade has negative effects on workers in industrialized countries. (correct)

Because trade has no effect on workers in industrialized countries.

Because trade has positive effects on workers in developing countries.

What is the most interesting case presented in the text regarding absolute advantage and comparative advantage?

North having an absolute advantage (correct)

South having an absolute disadvantage

North having an absolute disadvantage

South having an absolute advantage

What is one of the three prominent questions examined in the framework of absolute and comparative advantage?

Will free trade make the South poorer? Signup and view all the answers

What is the main outcome for a country with a comparative advantage in some set of products?

Growth in production of those products Signup and view all the answers

Why can products produced by low-productivity workers in the South compete successfully?

Low wages in the South Signup and view all the answers

What is the main reason for the North's ability to successfully export products despite high wages?

High productivity in the North Signup and view all the answers

How does the concept of absolute advantage impact national wage levels and living standards?

Determines national wage levels and living standards Signup and view all the answers

In the context of trade, what allows low-wage workers to shift to export-oriented industries in the South?

Expansion of export-oriented industries Signup and view all the answers

How do low wages in the South impact the cost of producing products?

Result in low production costs Signup and view all the answers