Arguments made against free trade include all of the following except
A) national defense considerations justify producing certain goods domestically whether the country has a comparative advantage in their production or not.
B) infant industries should be protected from free trade so that they may have time to develop and compete on an even basis with older, more established foreign industries.
C) dumping is an unfair trade practice that puts domestic producers of substitute goods at a disadvantage that they should be protected against.
D) free trade is inflationary and should be restricted in the domestic interest.
E) if foreign governments subsidize their exports, foreign firms that export are given an unfair advantage that domestic producers should be protected against.
D
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If managers ensure zero percent product failure, all of the following are true except which one?
A) Obtaining zero percent product failure is not likely to be possible. B) Obtaining zero percent product failure is likely to make the product very expensive. C) The product would never fail. D) Obtaining 100 percent product perfection is likely to be possible.
When multiple countries are trying to boost their economies by lowering the value of their currency, it causes a situation referred to as:
A. competitive revaluation. B. competitive devaluation. C. a speculative attack. D. speculative war.
When you subtract the expected rate of inflation from the nominal rate of interest, you calculate the
a. real rate of interest. b. real rate of inflation. c. expected rate of interest. d. expected rate of price increases.
In the Social Security system, the tax receipts from today's workers are
A. used to pay benefits to retired and disabled workers and their dependents today. B. paid into an account in the employee's name and saved and invested for that individual until he or she retires. C. all paid into Medicare. D. paid into the federal government's general revenue to be used for any government expenditure.