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Chapter 34: Q. 24RQ (page 832)

Is international trade likely to have roughly the same effect on the number of jobs in each individual industry?

Short Answer

Expert verified

International trade will not have the same effect on each industry.

Step by step solution

01

Concept

International trade refers to the exchange of goods and services between different countries.

02

Explanation

As a whole economy, international trade will increase or say reshuffle the numbers of jobs in an economy. When viewed in every particular industry then it may increase the number of jobs in some industries and it may decrease the number of jobs in some industries as it reshuffles the number of jobs in the economy. The industry which has a comparative advantage will have an increase in the number of jobs and which industry is not having a comparative advantage will decrease the number of jobs.

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