Which of the following correctly describes free international trade in accordance with comparative advantage?
a. It is typically favored by producers in importing countries.
b. It is typically favored by producers in exporting countries, but hated by their workers.
c. It is typically favored by producers in exporting countries, including their workers.
d. It is typically hated by consumers in importing countries.
e. It is typically hated by farmers, but looked upon favorably by manufacturers.
C
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Real GDP, as opposed to money (nominal) GDP, has been adjusted for changes in the general level of prices
a. True b. False Indicate whether the statement is true or false
Under what market structure do we have only one firm?
A. Monopoly B. Perfect Competition C. Monopolistic Competition D. Oligopoly
Refer to the above figure. Economic profits for this firm are
A. negative. B. zero. C. positive. D. undetermined without more information.
During a deflationary period
A) the nominal interest rate is less than the real interest rate. B) the real interest rate is less than the nominal interest rate. C) the price level rises. D) the nominal interest rate does not change.