What is the dumping argument for protection from international trade?
A) Domestic firms must be protected until they gain a comparative advantage.
B) Any firm necessary in wartime must be protected.
C) Foreign producers selling below cost to drive domestic firms bankrupt must be stopped.
D) Domestic jobs must be protected from competition from low-paid foreign workers.
E) Foreigners selling products in the economy limit the nation's diversity and stability.
C
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What is marginal external cost of production?
What will be an ideal response?
Currency devaluations help suppliers because they make exports ________ expensive
a. Less b. More c. All of the above d. None of the above
Which of the following purchases would most likely be classified as an investment?
a. sun block used to prevent sunburn b. a paper hat used for a birthday celebration c. a robot used to make computers d. chocolate chip cookies used for a lunch
Elasticity of supply looks at
A. How responsive producers are to a change in quantity demanded. B. The responsiveness of sellers to a change in consumer's incomes. C. How responsive sellers are to a change in price. D. How much quantity demanded changes with a change in price.