It may be demonstrated that any protectionist policy, which effectively shifts real resources to import competing industries or sectors will harm export industries or sectors. This may, for example, happen by the strengthening U.S
dollar in the foreign exchange market. Would you propose therefore that export industries lobby against protectionism in International Trade Commission proceedings? What of consumer advocates? Discuss the pros and the problems of such a suggestion.
Actually this is an interesting idea. It is well known that the public interest is put on hold as the ITC considers only the squeaky wheels of those allegedly hurt by trade. While "consumers" may be too amorphous a group to successfully organize and pursue a political agenda, the exporters and consumer advocates may be able to form a counter weight to the import competing industries.
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The amount of poverty in the United States ____ in the 1960s and ____ in the 1970s
a. increased; decreased b. decreased; increased c. held relatively steady; increased d. decreased; held relatively steady
What is the post-tax equilibrium quantity in this market?
A. between 70 units and 100 units B. less than 70 units C. greater than 100 units D. 70 units
A negative externality or spillover cost occurs when:
A. firms fail to achieve allocative efficiency. B. firms fail to achieve productive efficiency. C. the price of the good exceeds the marginal cost of producing it. D. the total cost of producing a good exceeds the costs borne by the producer.
An increase in demand for a product will cause the price of the product to rise and supply of the product to increase.
Answer the following statement true (T) or false (F)