Warning: foreach() argument must be of type array|object, bool given in /var/www/html/web/app/themes/studypress-core-theme/template-parts/header/mobile-offcanvas.php on line 20

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.

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.

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

Study anywhere. Anytime. Across all devices.

Sign-up for free