Refer to the figure above. Which of the following explains the impact on the domestic buyers and sellers when the country opens to free trade?
A) Both the sellers and the buyers are made worse off.
B) Both the sellers and the buyers gain.
C) The domestic firms lose but the buyers gain.
D) The domestic firms gain but the buyers lose.
D
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Exporting nations often agree to voluntary export restraints in an attempt to
A) decrease inflation. B) increase global welfare. C) avoid more restrictive trade policies. D) employ more workers in the importing nation.
Which program provides money and in-kind assistance to the poor?
a. supplementary security income b. earned-income tax credit c. income assistance programs d. Medicaid
According to the quantity theory:
A. unemployment is everywhere and always a monetary phenomenon. B. the equation of exchange does not hold true. C. inflation is everywhere and always a monetary phenomenon. D. real output is everywhere and always a monetary phenomenon.
The biggest problem with the ________ was that it was unclear what specific acts were to be considered "restraints of trade."
A. Sherman Antitrust Act B. The Humphrey-Hawkins Act C. The Clayton Act D. The FTC Act