Some economists argue that free trade is beneficial regardless of the actions of a country's trading partners, including trading partners that heavily protect their home markets
Indicate whether the statement is true or false
TRUE
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Which of the following can be concluded about the long-run performance of the U.S. economy? a. It has been able to create employment opportunities but only at the cost of high inflation. b. It has failed to generate sufficient aggregate demand in the economy
c. It has been one of the most productive economies in the world in terms of growth in real GDP. d. It has focused fiscal policies mostly at improving aggregate supply. e. It has suffered from huge fiscal deficits that dampened economic growth.
The least liquid of the following assets is
a. cash in the hands of the public b. time deposits c. savings accounts d. travelers' checks e. demand deposits
The tax cut of 2009 had little significant effect on consumer spending because it
a. was not large enough. b. was perceived as temporary. c. came too early in the year. d. was subtracted from 2008 taxes due.
Fiscal policy refers to the idea that aggregate demand is affected by changes in
a. the money supply. b. government spending and taxes. c. trade policy. d. All of the above are correct.