Why is there often resistance to free trade?
A. Free trade does not benefit the economy as a whole.
B. Specific groups may be hurt by free trade.
C. Free trade usually hurts consumers.
D. Free trade does not benefit the global economy.
Answer: B
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A monopolist's demand function is P = 1624 - 4Q, and its total cost function is
TC = 22,000 + 24Q -4Q2 + 1/3 Q3, where Q is output produced and sold. a. At what level of output and sales (Q) and price (P) will total profits be maximized? b. At what level of output and sales (Q) and price (P) will total revenue be maximized? c. At what price (P) should the monopolist shut down?
A tax on an imported product is called a
A) tariff. B) quota. C) dumping signal. D) all of these choices.
Which of the following accounted for the highest percentage of federal government spending in 2013?
a. net interest on the national debt b. income security c. national defense d. education and health
Referring to Table 4.2, Box A should be filled with 
A. $10. B. $0. C. $20. D. nothing.