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Question
suppose a developed nation begins to import more goods and services from a less developed country. which of the items will the more developed country experience as a result of increased international trade? consequence of globalized trade drag appropriate answer(s) here lower prices for consumers lower unemployment lower economic growth lower labor costs drag appropriate answer(s) here not a consequence of globalized trade
When a developed nation imports more from a less - developed country, increased competition from cheaper imports can lead to lower prices for consumers. Also, production may shift to take advantage of lower labor costs in the less - developed country. However, it may not necessarily lead to lower unemployment as some domestic industries may face challenges. And it doesn't directly imply lower economic growth; in fact, it can contribute to overall economic efficiency and growth in some cases.
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Consequence of Globalized Trade: lower prices for consumers, lower labor costs
Not a Consequence of Globalized Trade: lower unemployment, lower economic growth