Log out Go to App
Go to App

Learning Materials

Features

Discover

Chapter 20: Q. 23 (page 490)

Does international trade, taken as a whole, increase the total number of jobs, decrease the total number of jobs, or leave the total number of jobs about the same?

Short Answer

Expert verified

Increases.

Step by step solution

01

Step1. Introduction 

International trade is the exchange of goods and services across the global/international borders. It refers to the free trade across countries.

02

Step2. Explanation

International trade enables the exchange of goods and services. It increases the domestic competition and pressurizes the domestic players to produce at an international standard. It further lets them export to varying countries leading to an increased demand and production. It accumulates trade wealth and gains, further enhancing the production due to capital accumulation.

All of it induces increased production, for which the firms will demand labor leading to creation of more and more job opportunities.

Hence, it international trade increases the job opportunities.

Unlock Step-by-Step Solutions & Ace Your Exams!

  • Full Textbook Solutions

    Get detailed explanations and key concepts

  • Unlimited Al creation

    Al flashcards, explanations, exams and more...

  • Ads-free access

    To over 500 millions flashcards

  • Money-back guarantee

    We refund you if you fail your exam.

Start your free trial

Over 30 million students worldwide already upgrade their learning with Vaia!

One App. One Place for Learning.

All the tools & learning materials you need for study success - in one app.

Get started for free

Most popular questions from this chapter

Is it legitimate to impose higher safety standards on imported goods that exist in the foreign country where the goods were produced?

Explain how predatory pricing could be a motivation for dumping.

If trade barriers hurt the average worker in an economy (due to lower wages), why does the government create trade barriers?

How can governments identify good candidates for infant industry protection? Can you suggest some key characteristics of good candidates? Why are industries like computers not good candidates for infant industry protection?

Who does protectionism protect? From what does it protect them?
See all solutions

What do you think about this solution?

We value your feedback to improve our textbook solutions.

Study anywhere. Anytime. Across all devices.

Sign-up for free