If a country begins allowing free international trade in a good, and as a result, it increases imports of that good
a. domestic producers gain more than domestic consumers lose.
b. domestic producers lose more than domestic consumers gain.
c. domestic consumers gain more than domestic producers lose.
d. domestic consumers lose more than the domestic producers gain.
c
You might also like to view...
Capital flows deal with:
A) buying and selling of newly produced final goods and services among countries. B) buying and selling of existing real and financial assets among countries. C) buying and selling of only domestic final goods and services. D) none of the above.
A firm will shut down in the short-run if
a. P>AVC
b. P
Suppose the market for oranges is perfectly competitive and unregulated. Suppose also that the chemicals used to keep the oranges insect-free damage the environment by an estimated $1 per bushel of oranges. Suppose QD = 1000 - 100P and QS = -100 + 100P. The price consumers would have to pay for the market to achieve the socially optimal level of production is
a. 5 b. 5.5 c. 6 d. 6.5
Homeowners
a. are subject to double taxation. b. benefit from several loopholes. c. have no particular advantages in the tax system. d. must pay tax on the "income" of living in a house.