Why are the losers from free international trade not fully compensated for their losses?
A) The amount of compensation needed would bankrupt the government.
B) The losers are foreigners.
C) The people who claim to lose are also the same ones who benefit.
D) No one actually loses from international trade.
E) Identifying all losers and the size of their losses is extremely difficult.
E
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For a monopolist, marginal revenue for all units greater than 1 is:
A. always equal to price. B. never less than price. C. always less than price. D. minimized at price.
When externalities exist, buyers and sellers
a. neglect the external effects of their actions, but the market equilibrium is still efficient. b. do not neglect the external effects of their actions, and the market equilibrium is efficient. c. neglect the external effects of their actions, and the market equilibrium is not efficient. d. do not neglect the external effects of their actions, and the market equilibrium is not efficient.
When the receipts given by goldsmiths to depositors were used to make purchases:
A. existing banking laws were violated. B. the receipts became in effect paper money. C. the gold standard was created. D. a fractional reserve banking system was created.
Chris is preparing for a comprehensive course exam by reading a textbook with chapters of equal length and difficulty. The number of chapters she can comprehend and master when studying is: (1) hour one: 1.5 chapters; (2) hour two: 2.0 chapters; (3) hour three: 1.5 chapters; (4) hour four: 1 chapter; (5) hour five: 0 chapters. Diminishing marginal returns to studying sets in for Chris after hour:
A. One B. Two C. Four D. Five