Most economists have concluded that fair-trade practices:
A. distort market prices and wages in ways that encourage inefficient resource allocation.
B. raise the overall demand for labor and wages in low-wage nations.
C. increase overall labor productivity in low-wage nations.
D. do all of these things.
A. distort market prices and wages in ways that encourage inefficient resource allocation.
You might also like to view...
Which of the following is most important for the successful functioning of any economy?
A) Clearly understood and generally accepted rules. B) Common and reasonably specific goals for people to pursue. C) Greed. D) Low taxes relative to income. E) Sufficient purchasing power to buy all of an economy's goods and services.
Economies of scope is the term used to describe an industry that is composed of firms having substantial economies of scale
a. True b. False
The money multiplier works best if all transactions in the economy are made through the banking system
a. True b. False Indicate whether the statement is true or false
Ray buys a new tractor for $118,000 . He receives consumer surplus of $13,000 on his purchase. Ray's willingness to pay is
a. $13,000. b. $105,000. c. $118,000. d. $131,000.