If a country allows free trade and imports cars, then it is the case that the gains to domestic producers outweigh the losses to domestic consumers
a. True
b. False
Indicate whether the statement is true or false
False
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What is TRUE of the aggregate supply curve in the classical model?
A) The aggregate supply curve is downward sloping. B) The aggregate supply curve is vertical. C) The aggregate supply curve is horizontal. D) The aggregate supply curve is not determined by the level of employment.
An outward shift of a nation's production possibilities frontier can occur due to
A) a natural disaster like a hurricane or bad earthquake. B) a change in the amounts of one good desired. C) an increase in the labor force. D) a reduction in unemployment.
If you pay $2,000 in taxes on an income of $20,000, and a tax of $3,500 on an income of $30,000, then over this range of income the tax is
A) regressive. B) proportional. C) progressive. D) There is insufficient information to answer the question.
How are interest rates determined in the Keynesian model?
A. money supply, interest rates, government spending, supply, price and output B. money supply, interest rates, investment, demand, price and output C. money supply, savings, consumption, demand, price and output