Which of the following is NOT a true statement regarding free trade?
A) Free trade promotes specialization and efficient production.
B) Free trade generally reduces the domestic prices of imports.
C) Free trade may stimulate economic growth through export sales.
D) Every individual in a country gains short-term benefits from free trade.
D
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At the midpoint of a linear demand curve, the price elasticity of demand is:
A) equal to zero. B) between zero and one. C) equal to one. D) greater than one.
A Big Mac costs $4.00 in the United States and 9.00 reals in Brazil. If the exchange rate is 2 reals per dollar, what is the dollar cost of a Big Mac in Brazil?
A) $0.89 B) $2.25 C) $4.50 D) $8.00
Which of the following would most likely occur if the federal government increased its spending and enlarged the size of the budget deficit during a period of full employment?
a. The rate of inflation would decline. b. The r ate of inflation would rise. c. A recession would develop. d. Interest rates would fall.
The U.S. federal government relies more heavily on sales taxes, excise taxes, and customs duties than nearly any other government in the world
a. True b. False Indicate whether the statement is true or false