All categories

3 years ago

The cheap foreign labor argument for protectionism refers to ________.

2 answers:

7 0

The cheap foreign labor argument for protectionism refers to a lower wage often earned by many foreign workers.
Hope this helps :)

gavmur [86]3 years ago

4 0

<u>The cheap foreign labor could possibly disrupt the market of skilled and unskilled labor in the country that could lead to a high rate of unemployment. </u>

Further Explanation:

Protectionism:

When a government of a country make policies and takes actions to protect the domestic industries of the country which could be disrupted by the foreign companies. Counties use the protectionism theory to grow their domestic industries. Foreign companies can disrupt the local competition with unfair means such as high capital investment against small domestic businesses.

A government of the country should use the protectionism theory in order to converse the domestic economy. The government can use the following methods to protect the domestic industries: Tariffs, lower export duty, and higher import duty.

Cheap foreign labor argument for protectionism:

The decrease in the cost of the product is beneficial for the business as it will increase the profit of the company. Cheaper labor will lead to a higher profit for a company. Therefore, the company would prefer a cheap labor option. In the given case, the cheap foreign labor argument means that cheap foreign labor will disrupt the market for domestic labor. The domestic labor would be replaced by cheaper foreign labor and it will increase the unemployment in the country.

<u>Thus, cheap foreign labor could possibly disrupt the market of skilled and unskilled labor in the country that could lead to a high rate of unemployment. </u>

Learn more:

1. Learn more about the example of protectionist

brainly.com/question/9263382

2. Learn more about the excise tax

brainly.com/question/8827242

3. Learn more about the exercise clause

brainly.com/question/4286188

Answer details:

Grade: Senior School

Subject: Economics

Chapter: National Income

Keywords: Domestic, saving, the cheap, foreign, labor, argument, for, protectionism, refers, too, income.

You might be interested in

On March 1, Bartholomew Company purchased a new stamping machine with a list price of $77,000. The company paid cash for the mac

nikdorinn [45]

Answer:

$81,020

Explanation:

The cost of the asset includes the cost of purchase less any given discount or tax returns and the addition of other cost incurred in making the asset available for use.

As such, the cost of the machine

= $77,000 - (5% * $77,000) + $2,000 + $4,520 + $1,350

= $81,020

The routine maintenance cost is not a part of the asset but an expense in p/l.

8 0

3 years ago

Which system of job evaluation is being used when cards that list the duties and responsibilities of the job are arranged by rat

trasher [3.6K]

That would a be system of job ranking

8 0

3 years ago

2. If the government decided to subsidize the production of a good, the result would be a decrease in the equilibrium price and

kogti [31]

Answer: True

Explanation:

The subsidy will increase the supply of the good, and therefore the supply curve will shift to the right. Then its intersection with the demand curve will be located at a lower price and with a larger quantity.

5 0

3 years ago

All of the following costs are likely to decrease as a result of better quality except:

swat32

Answer:

The correct answer is (d)

Explanation:

Better quality can help to reduce many costs such as customer’s dissatisfaction cost, inspection cost and warrant and service cost. When customers don't like the quality of the product they are likely to buy the same product from somewhere else that is the dissatisfaction cost. Still, maintenance cost is likely to incur no matter how good the quality is. Maintenance cost helps to keep the product clean and fresh for long-term use.

5 0

3 years ago

On October 15, 2019, the Department of Labor announced that the Producer Price Index (PPI) experienced an unexpected 1.1 percent

Kruka [31]

Answer:

A. We should expect higher interest rates and lower stock prices.

Explanation:

Producer price index refers to the price that producers recieve for their products. When there is an increase in PPI it means producers are receiving more revenue.

Increased revenue will result in more money in circulation. To regulate the excess money the monetary authorities will increase interest rate to reduce borrowing and by extension money in the economy.

Because there is now a need to get more funds by the companies, they will lower share prices to make them attractive to prospective investors.

5 0

3 years ago