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Economics

a) As a result of the North American Free Trade Agreement (NAFTA), the US and Canada are shifting toward free trade with Mexico. According to the Stopler-Samuelson theorem, how will this shift affect the real wage of unskilled labor in Mexico? In the US or Canada? How will it affect the real wage of skilled labor in Mexico? In the US or Canada? (Brief answers needed).

b) One of your relatives suggests to you that our country should stop trading with other countries because imports take away jobs and lower our national well-being. How would you try to convince him that this is probably not the right way to look at international trade and its effects on the country?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9281996

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