Answer to Question #190276 in Macroeconomics for James

Question

QUESTION 19

Protectionism:

1. Is always the best solution.
2. Costs jobs in the protected industry.
3. Creates jobs in other unprotected industries.
4. Costs jobs in other unprotected industries.
5. None of the above.

QUESTION 20

One concern is that globalization may:

1. Impose costs on low-skilled workers.
2. Benefit low-skilled workers.
3. Benefit low-wage workers.
4. Impose costs on high-skilled workers.
5. Impose costs on high-wage workers.

QUESTION 21

Trade will cause the average level of wages in an economy:

1. To increase.
2. To remain unchanged.
3. To decrease.
4. To stagnate.
5. To do loops.

QUESTION 22

The real problem in low-income countries is that:

1. They are all run by brutal dictators.
2. They have too many high-skilled workers.
3. They have so many good life alternatives.
4. They have so few good life alternatives.
5. All of the above.

Answer 1

QUESTION 19

Protectionism costs jobs in other unprotected industries.

QUESTION 20

One concern is that globalization may impose costs on low-skilled workers.

QUESTION 21

Trade will cause the average level of wages in an economy to increase.

QUESTION 22

The real problem in low-income countries is that they have so few good life alternatives.