Which of the following groups does not have an interest in restricting free trade?
A. People who buy the imported product.
B. Producers in import-competing markets.
C. Communities where workers in import-competing markets live.
D. Workers in import-competing markets.
A. People who buy the imported product.
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When inflation is high and unexpected,
A) borrowers of money lose and lenders win. B) borrowers of money win and lenders lose. C) both borrowers and lenders of money win. D) both borrowers and lenders of money lose.
The infant industry argument is that
A) comparative advantage is irrelevant to economic growth. B) developing countries have a comparative advantage in agricultural goods. C) developing countries have a comparative advantage in manufacturing. D) developing countries have a potential comparative advantage in manufacturing. E) developing countries have no chance to compete with industrialized countries.
Which of the following would not be an example of an oligopolistic industry?
a. light bulbs b. convenience stores c. aircraft d. breweries
Which of the following do most economists consider to be the most basic measure of a nation's international transactions?
a. balance on current account b. balance on capital account c. balance of merchandise trade d. balance on long-term capital