Low wages and poor working conditions in many U.S. trade partners
A) prove that the gains-from-trade arguments of the Ricardian model are false.
B) may be a fact of life, but economists don't care.
C) are facts emphasized by U.S. labor in its contract negotiations.
D) prove that the gains-from-trade arguments of the Ricardian model are true.
E) prove that international trade is exploitative.
C
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What will be an ideal response?
The manner in which one oligopolist reacts to a change in price, output, or quality made by another oligopolist in the industry is
A) a cooperative game. B) the reaction function. C) a zero-sum game. D) the concentration ratio.
Refer to Figure 17-10. Consumer surplus with the tariff is
a. A.
b. A + B.
c. A + C + G.
d. A + B + C + D +E + F.
What is the purpose of the Federal Deposit Insurance Corporation (FDIC)?
(A) To make sure that banks charge a fair amount of interest on loans. (B) To make sure that banks do not fail. (C) To make sure that customers do not lose money if a bank fails. (D) To make sure that the government has enough gold to cover its expenses.