Q47"Canadians, on average, are worse off when some manufacturing jobs migrate from Canada to low-wage countries in Central America." This statement is _____ because...a.Incorrect; the permanent gains to consumers from lower prices outweigh the temporary losses to the displaced manufacturing workers.b.Correct; the loss of manufacturing jobs leads to permanent income losses in Canada.c.Correct; Canadian firms cannot compete with production in low-wage countries.d.Incorrect; low-wage countries do not produce manufactured goods.e.Incorrect; there are no Canadians made worse off by such an event.

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Answered: Q47 "Canadians, on average, are worse…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Q47

"Canadians, on average, are worse off when some manufacturing jobs migrate from Canada to low-wage countries in Central America." This statement is _____ because...

Incorrect; the permanent gains to consumers from lower prices outweigh the temporary losses to the displaced manufacturing workers.

Correct; the loss of manufacturing jobs leads to permanent income losses in Canada.

Correct; Canadian firms cannot compete with production in low-wage countries.

Incorrect; low-wage countries do not produce manufactured goods.

Incorrect; there are no Canadians made worse off by such an event.

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