One reason for the success that firms have in getting the government to erect barriers to foreign competition is that jobs lost to foreign competition are easy to identify but jobs created by foreign trade are often hard to identify
Which of the following is a second reason?
A) Firms that benefit from trade barriers have more money to lobby government officials to support the barriers than do firms that are harmed by trade barriers.
B) The costs that tariffs and quotas impose on consumers are large in total but relatively small per person.
C) The benefits from free trade are less than the costs.
D) People who benefit from foreign trade tend not to vote in elections; people who are harmed by foreign trade are much more likely to vote.
B
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The short-run Phillips curve tradeoff becomes less favorable if either
A) the expected inflation rate or the natural unemployment rate increases. B) potential GDP or the natural unemployment rate increases. C) potential GDP or the natural unemployment rate decreases. D) the level of real GDP decreases or the natural unemployment rate decreases. E) the expected inflation rate increases or the natural unemployment rate decreases.
Cost-push inflation is a result of an increase in the per unit costs of production
a. True b. False Indicate whether the statement is true or false
Are hurt more by unemployment.
A.men B. youth C. uneducated D. all of these!
An incumbent's gain from "learning by doing" is diminished if learning is rapid because
A) the incumbent gets too quick a head start B) future entrants can catch up quickly C) the incumbent will not bother to learn cost-saving techniques D) other firms would not enter anyway