Trade restrictions are often motivated by a desire to save domestic jobs threatened by competition from imports. Which of the following counter-arguments is made by economists who oppose trade restrictions?
A) Trade restrictions benefit consumers in the short run but not in the long run.
B) Statistics show that trade restrictions actually do not save jobs.
C) Consumers pay a high cost for jobs saved through trade restrictions.
D) Trade restrictions have a limited impact because most Americans prefer domestic goods over imports.
C
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________ will increase current consumption, saving, and future consumption
A) an increase in future income B) an increase in initial wealth C) an increase in current income D) a decrease in the real interest rate
Mental accounting simplifies the decision-making process because it:
A. limits the calculation of trade-offs. B. eliminates prices from the decision-making process. C. values all purchases equally. D. only weighs benefits and not costs.
To compare the real price of gas in 1975 to the real price in 2013, we need to know
A) the two prices in both years and the inflation rate in 2013. B) just the two nominal prices in both years. C) the two prices in both years and the two interest rates in both years. D) the two prices in both years and the CPI in both years. E) the two prices in both years and the two inflation rates in both years.
Your savings account balance would be counted in which measure of money?
A. M1 B. M2 C. Hard money D. It would be counted in both M1 and M2