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Author Question: The owners of steel companies in the United States have argued that they need to be protected from ... (Read 28 times)

newyorker26

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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
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Marked as best answer by newyorker26 on May 25, 2020

ebe

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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.
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newyorker26

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Reply 2 on: May 25, 2020
Great answer, keep it coming :)

6ana001

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Reply 3 on: Yesterday
Wow, this really help

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