Technological changes have changed production worldwide toward the application of computers to manufacturing processes. How does this affect countries that have a comparative advantage in the production of high-tech equipment, such as the United States?
Responses
U.S. exports will rise because of an increased demand for high-tech equipment.
U.S. exports will rise because of an increased demand for high-tech equipment.
U.S. high-tech equipment manufacturers will face increased competition.
U.S. high-tech equipment manufacturers will face increased competition.
U.S. imports will rise because the increased demand for high-tech equipment will require an increase in raw materials and other inputs.
U.S. imports will rise because the increased demand for high-tech equipment will require an increase in raw materials and other inputs.
In the U.S., the cost of producing high-tech equipment will rise because of greater demand.