If the domestic producers of a good benefit from free trade, it suggests that the country:
A. is a net importer of that good.
B. does not have an absolute advantage in that good.
C. does not have a comparative advantage in that good.
D. is a net exporter of that good.
Answer: D
You might also like to view...
Which of these refers to the “individual mandate” in the Patient Protection and Affordable Care Act (PPACA) passed in 2010?
A. All physicians must treat any patient without charging a fee. B. All United States residents are required to carry insurance or pay a fine. C. All physicians must earn the same annual salary, regardless of specialty. D. All of the above
A farmer has 100 acres of land on which he can grow soybeans or corn. An acre of land yields 200 bushels of soybeans or 100 bushels of corn. The above figure refers to the farmer's
A) production possibilities curve. B) substitution options curve. C) demand curve. D) opportunity cost curve.
Distinguish between the short run and the long run. In the short run, ______, whereas in the long run ______.
a. some inputs are variable because they can be altered quickly; all inputs are fixed b. some inputs are fixed because they cannot be altered quickly; all inputs are variable c. fixed inputs can be adjusted as production increases; all inputs can be altered d. inputs cannot be varied; some inputs are fixed and cannot be altered
The index that is NOT based on a fixed market basket of goods and services is the
A. CPI. B. GDP Price Deflator. C. PPI. D. Wholesale Price Index.