Question

The short-term unemployment is most likely to occur in the international trade in:

a) Industries that sell to only foreign buyers. b) Industries that sell to domestic and foreign buyers

c) Industries in which there are neither imports nor exports.

d) Import competing industries.

Answer 1

Answer:

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Answer 2

It is most likely to occur in Import competing industries.

• Import competing businesses creates commodities that are imported into the country as well. When a country's international commerce grows, exporting industries produce more, while import-competing sectors produce less.
• International commerce raises the relative price of skill-intensive items in a country with a high level of competence. This lowers the unemployment rate for skilled people while raising the rate for unskilled employees.
• In local labour markets housing import competing businesses, increasing imports result in more unemployment, decreased labor force participation, and lower pay.