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Chapter 21: Q.25 (page 522)

How is international trade, taken as a whole, likely

to affect the average level of wages?

Short Answer

Expert verified

International trade, taken as a whole, likely

to increases the average level of wages.

Step by step solution

01

Step 1. Meaning

International trade- is the trade of goods & services globally.

02

Step 2. Explanation 

International trade gives competition to the domestic market that makes more products that generate more wealth and for international trade countries also uses their comparative advantage that makes to produce more, also for exports, firms produce more that increases the demand for labor & generates employment that leads to an increase in wages of labor.

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