Which of the following policies would not improve the terms of trade from the point of view of import-competing industries in the United States?
A. Placing tariffs on imports of foreign goods.
B. Restricting imports of foreign goods.
C. Increasing the degree of free trade.
D. "Buy American" campaigns.
Answer: C
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In a competitive market, firms are unable to differentiate their product from that of other producers
a. True b. False Indicate whether the statement is true or false
_______________is a type of cost-benefit decision making that compares the extra benefits to the extra cost of an action.
Fill in the blank(s) with the appropriate word(s).
Why is it important that a firm have different groups of consumers with different demand elasticities if it wishes to engage in price discrimination?
What will be an ideal response?
Autonomous real investment spending is
A. the level of investment expenditure required to keep the economy expanding at its current growth rate. B. the level of investment expenditure required to replace capital lost to depreciation. C. the level of investment expenditure that would prevail if interest rates were zero. D. the level of investment expenditure that is independent of real GDP.