When a country allows trade and becomes an exporter of a good,
a. the gains of the domestic producers of the good exceed the losses of the domestic consumers of the good.
b. the gains of the domestic consumers of the good exceed the losses of the domestic producers of the good.
c. the losses of the domestic producers of the good exceed the gains of the domestic consumers of the good.
d. the losses of the domestic consumers of the good exceed the gains of the domestic producers of the good.
A
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If consumption was 70 percent of GDP and investment and government expenditure were both 18 percent each, then we see that
A) exports must be less than imports. B) exports must be more than imports. C) the error is due to rounding. D) we must subtract depreciation from investment so that the components of GDP do not exceed 100 percent. E) GDP can be over 100 percent because it is "gross" rather than "net."
What is the price of funds in the loanable funds market?
a. The real wage rate b. The Consumer Price Index c. The interest rate d. The profit rate e. The GDP price index
A recent (2009) example of a U.S. tariff on foreign imports which caused retaliation from trading partners was the case of a U.S. tariff imposed on Chinese
a. tire imports. b. agricultural imports. c. airplane imports. d. clothing imports.
Assume the market for ball bearings is purely competitive. Currently, each of the firms in this market is making a positive level of economic profits. In the long run, we can expect the market:
A. supply to increase. B. supply to decrease. C. demand to decrease. D. demand to increase.