Which of the following explains how domestic consumers and domestic producers are affected by imports when free trade is allowed?
a. Domestic consumers gain more from imports than domestic producers lose.
b. Domestic losses from imports are offset by gains within developing countries.
c. Consumers and producers both benefit from imports when free trade is allowed.
d. Consumer losses from imports are offset by gains experienced by producers.
a. Domestic consumers gain more from imports than domestic producers lose.
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Use the following table to answer the question below. Dave's Production Possibilities SchedulePounds of Green BeansPounds of Corn0160201204080604080 0Dave's opportunity cost of producing 1 pound of corn is ________ pound(s) of green beans.
A. 1 B. 4 C. 1/2 D. 2
All the welfare programs combined are twice as large as Social Security
Indicate whether the statement is true or false
If the Johnson family has an average tax rate of 10 percent, how much is its marginal tax rate?
What will be an ideal response?
The short run Phillips Curve shows there is ________ relationship between the unemployment rate and the rate of inflation.
A. a positive B. a constant C. a negative D. no