Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Preface: For years free trade agreements have put manufacturing workers in the U.S. in direct competition with their developing country counterparts with the purpose of

image text in transcribed

Preface:

For years free trade agreements have put manufacturing workers in the U.S. in direct competition with their developing country counterparts with the purpose of driving down wages in the U.S. and bringing in cheaper imported goods. All the while highly paid service sector workers such as lawyers, doctors, CPAs, and the like are shielded from competition from developing country service sector workers who would be glad to come to the U.S. and enjoy relatively higher wages. This effectively means that highly paid professionals get to enjoy the benefits of cheaper imported goods, while still having their inflated salaries. This has exacerbated inequality in the U.S. due to the fact that manufacturing workers who have effectively had their wages driven down still have to pay for expensive professional services that have not commensurately come down. This is not only economically inefficient, it is ethically wrong due to the fact that lawyers are the ones who actually author free trade agreements and corporate and special interest groups representing the professional service sector are usually at the negotiating table when they are being authored.

U.S. doctors have some of the highest salaries in the world as evidenced by the graph below that compares general practitioner pay amongst fellow OECD member countries.

(Note: The data is old due to the fact that the American Medical Association no longer collects salary data for general practitioners)

Assignment:

Read the attached article, which details some of the issues surrounding the international medical graduate licensing process.

Answer the following questions:

1. Do you think the licensing process for international medical graduates is an unnecessary hurdle meant to shield U.S. doctors from foreign competition? If so explain why. If not explain why. Please reference the article in your response.

2. How could increasing the number of doctors in the U.S. affect macroeconomic variables such as productivity, GDP per capita, inflation, etc.

image text in transcribed
Chrome File Edit View History Bookmarks Profiles Tab Window Help Topic: Discussion #9 X H Homework Help - Q&A from O X I + O 6 C' a rsccd.instructure.com/courses/89578/discussion_topics/1166445 .-. p\"..- ....c purpose of driving down wages in the U5. and bringing in cheaper imported goods. All the while highly paid service sector workers such as lawyers, .c.. m..-.-,.... .. .._D. ..-......c,..' '. J & SpringZOZS . . ~ . . . doctors, CPAs, and the like are shielded from competition from developing country serVIce sector workers who would be glad to come to the U.S. and Home enjoy relatively higher wages. This effectively means that highly paid professionals get to enjoy the benets of cheaper imported goods, while still having their inated salaries. This has exacerbated inequality in the U.S, due to the fact that manufacturing workers who have effectively had their wages driven Grades 0 down still have to pay for expensive professional services that have not commensurately come down. This is not only economically inefcient, it is Account Modules ethically wrong due to the fact that lawyers are the ones who actually author free trade agreements and corporate and special interest groups . representing the professional service sector are usually at the negotiating table when they are being authored. (53 Announcements Dashboard U.S. doctors have some of the highest salaries in the world as evidenced by the graph below that compares general practitioner pay amongst fellow lDIscussmns OECD member countries. Courses NetTutor Online (Note: The data is old due to the fact that the American Medical Association no longer collects salary data for general practitioners) Tutoring Figure I, Remuneration of GPI In use PPP. selected OECD countries. 200' (o: closest you avail-No) Calendar iinmsunizoon' \"" iinardximoommi\" Q News!\" (7004 i' In box (gimmyimoli' keummoosv Ausl'ulmli"

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Economics

Authors: Luke M. Froeb, Brian T. McCann, Michael R. Ward

5th Edition

1337106666, 978-1337106665

More Books

Students also viewed these Economics questions

Question

Use Fermat's little theorem to find 7121 mod 13.

Answered: 1 week ago

Question

Did I allow myself adequate time to generate options?

Answered: 1 week ago

Question

5. Give examples of binary thinking.

Answered: 1 week ago