This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The owners of steel companies in the United States have argued that they need to be protected from ... (Read 41 times)

newyorker26

  • Hero Member
  • *****
  • Posts: 536
on: May 25, 2020
The owners of steel companies in the United States have argued that they need to be protected from foreign competition because the wages paid to workers in foreign countries are significantly lower than the wages paid to US steel workers. What is the best economic response to this argument?
◦ It is essential to protect the steel industry so that there are no additional job losses in this industry.
◦ Wages reflect productivity and if US steel workers are more productive than workers in foreign countries then the US steel industry should still be able to compete internationally.
◦ Even though US workers earn more than workers in foreign countries, the United States would still have an absolute advantage in the production of steel and should therefore be able to compete internationally.
◦ The steel industry should be protected from foreign competition because low foreign wages are an unfair barrier to trade.
Essential Economics for Business ¦ Sloman, Jones ¦ 5th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by newyorker26 on May 25, 2020

ebe

  • Sr. Member
  • ****
  • Posts: 320
Reply #1 on: May 25, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 29% of students answer this correctly


newyorker26

  • Member
  • Posts: 536
Reply 2 on: May 25, 2020
Thanks for the timely response, appreciate it

EAN94

  • Member
  • Posts: 307
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Of the estimated 2 million heroin users in the United States, 600,000–800,000 are considered hardcore addicts. Heroin addiction is considered to be one of the hardest addictions to recover from.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

Drug-induced pharmacodynamic effects manifested in older adults include drug-induced renal toxicity, which can be a major factor when these adults are experiencing other kidney problems.

Did you know?

Human kidneys will clean about 1 million gallons of blood in an average lifetime.

Did you know?

The training of an anesthesiologist typically requires four years of college, 4 years of medical school, 1 year of internship, and 3 years of residency.

Ethnic Variations in Prenatal Care within the United States Ethnic Variations in Prenatal Care within the United States
Among non-Muslims in the United States, wearing a head scarf, or a khimar, is a personal fashion ... Among non-Muslims in the United States, wearing a head scarf, or a khimar, is a personal fashion ...
In 2008, Barack Obama was elected president of the United States, the first minority to achieve this ... In 2008, Barack Obama was elected president of the United States, the first minority to achieve this ...
United States, southwestern and southern states are suffer from a significant decrease in rainfall United States, southwestern and southern states are suffer from a significant decrease in rainfall
Prevalence of Food Insecurity in the United States Prevalence of Food Insecurity in the United States
Total Fertility Rate in the United States, 1860–2008 Total Fertility Rate in the United States, 1860–2008
Video: How proteins function? How do proteins work?

For a complete list of videos, visit our video library