The argument that import restrictions save jobs and promote prosperity fails to recognize that:
a. there are no secondary effects of import restrictions.
b. import restrictions will lower prices in the protected industries.
c. import restrictions cannot create jobs in any industries.
d. U.S. imports provide people in other countries with the dollars power required for the purchase of U.S. exports.
d
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If pollution coming from factories is bad, then why would the socially optimal level of pollution not be zero?
A. because there are significant social costs of achieving zero pollution B. because there are significant social benefits from attaining zero pollution C. because the factories are privately owned in a market system D. because there are zero benefits from zero pollution
Refer to the above table. Which country had the largest increase in per capita real GDP between 2014 and 2015?
A) A B) B C) C D) D
Which of the following are depository institutions?
A) The Federal Reserve Banks of New York and Chicago B) The U.S. Treasury and the IRS C) Banks and thrifts D) Investment banks and finance companies
When a firm faces a horizontal demand curve,
A. the marginal cost curve is upward sloping. B. the market price is also the firm’s marginal revenue. C. the market demand curve is also a horizontal line at the market price. D. entry by new firms is unlikely.