Business, 03.07.2019 20:10 cedrahasouneh10

The cheap foreign labor argument for protectionism refers to

Answers: 1

Show answers

Answers

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

Answer from: purplefive85

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.

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.

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.

Learn more:

1.Learn more about the example of protectionist

2.Learn more about the excise tax

3.Learn more about the exercise clause

Answer details:

Grade: Senior School

Subject: Economics

Chapter: National Income

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

Answer from: Quest

This statement is true.

Answer from: Quest

(75years ,i believe is the correct answer.good luck

Another question on Business

Business, 21.06.2019 19:30

Clonex labs, inc., uses the weighted-average method in its process costing system. the following data are available for one department for october: percent completed units materials conversion work in process, october 1 53,000 90 % 65 % work in process, october 31 29,000 74 % 52 % the department started 381,000 units into production during the month and transferred 405,000 completed units to the next department. required: compute the equivalent units of production for october.

Answers: 2

Answer

Business, 21.06.2019 21:50

Franklin painting company is considering whether to purchase a new spray paint machine that costs $4,800. the machine is expected to save labor, increasing net income by $720 per year. the effective life of the machine is 15 years according to the manufacturer’s estimate. required determine the unadjusted rate of return based on the average cost of the investment.

Answers: 2

Answer

Business, 22.06.2019 17:40

Adamson company manufactures four lines of garden tools. as a result of an activity analysis, the accounting department has identified eight activity cost pools. each of the product lines is produced in large batches, with the whole plant devoted to one product at a time. classify each of the following activities or costs as either unit-level, batch-level, product-level, or facility-level. activities (a) machining parts. (b) product design. (c) plant maintenance. (d) machine setup. (e) assembling parts. (f) purchasing raw materials. (g) property taxes. (h) painting.

Answers: 2

Answer

Business, 22.06.2019 22:40

Crowding out is a phenomenon focused upon most by the macroeconomists of whereby a government deficit interest rates, which in turn private investment spending. this group also believed that fiscal policy is the only thing that can lower natural unemployment. is just as effective in countering recessions as monetary policy. can be used most of the time, but monetary policy becomes a better option when velocity is fluctuating. should be used only if the central bank follows a monetary policy rule. faces problematic lags in propagating changes throughout the economy.

Answers: 3

Answer

You know the right answer?

The cheap foreign labor argument for protectionism refers to...

Questions