Which of the following statements accurately expresses evidence that globalization does not encourage a race to the bottom in labor standards?
a. The wages paid by multinational firms to their poor countries' subsidiaries are higher than the wages paid in rich countries.
b. Poor countries that participate in globalization have quickly become rich.
c. Multinational firms tend to pay higher wages than local firms, but they tend to provide lower benefits than existed in the country prior to globalization.
d. Multinational firms must sign contracts with the IMF stating that they will offer exceptional worker benefits.
e. Multinational firms tend to pay higher wages than local firms and tend to provide greater benefits for workers than existed in the country prior to globalization.
Question 2
Suppose that flu shots create a positive externality equal to 20 per shot. What is the relationship between the market equilibrium output level and the efficient equilibrium output produced?
a. They are equal.
b. The market equilibrium output level is greater than the efficient equilibrium output level.
c. The market equilibrium output level is less than the efficient equilibrium output level.
d. None of the above.
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