The main problem with accepting the national security argument as a valid reason to restrict international trade is that
a. other countries could have produced the goods more efficiently
b. almost all industries could be described as being vital to national security
c. technology secrets are difficult to keep from other countries in this age of computer information
d. it will become too expensive to produce national security goods within the country
e. in reality, tariffs are impossible to enforce effectively because of the black market
B
You might also like to view...
If the nominal interest rate is 8.25% and inflation rate is 3%, the real interest rate is ________
A) 5.25% B) 2.75% C) 1.25% D) 11.25%
Which of the following is an objective of government taxation?
A) Reducing the demand for money in the economy B) Increasing the supply of money in the economy C) Redistribution of funds D) Reducing the growth rate of the economy
When you borrow stock from a broker and sell it now with plans to buy it back after it drops in price, you are engaging in a
A) margin call B) European option C) American option D) short sale
The burden of a tax is placed entirely on the buyers of a good when the demand for the good is _____
a. perfectly inelastic b. perfectly elastic c. unit elastic d. relatively elastic