1. True or False: Increases in imports will always lead to NET job losses in the U.S. domestic economy.
Would this be false?
2. True or False: If all countries could restrict imports and promote exports, world output would rise.
Would this be false as well?
3. Which of the following statement is FALSE?
A.Quotas restrict the quantity of a good that is imported into a country.
B.One result of quotas is that consumers of the good facing the quota will pay a higher price for the good.
C.Domestic producers of the good will benefit because they face less foreign competition.
D.Government collects the revenue from quotas.
Is it B?
4. True or False: If country A has an absolute advantage in producing many goods and services over another country B, then country A will NEVER have an incentive to trade with country B.
I want to say its False because regardless if country A has an absolute advantage it still needs to trade with country B. I think?
1. True or False: Increases in imports will always lead to NET job losses in the U.S. domestic economy.
Would this be false?
2. True or False: If all countries could restrict imports and promote exports, world output would rise.
Would this be false as well?
3. Which of the following statement is FALSE?
A.Quotas restrict the quantity of a good that is imported into a country.
B.One result of quotas is that consumers of the good facing the quota will pay a higher price for the good.
C.Domestic producers of the good will benefit because they face less foreign competition.
D.Government collects the revenue from quotas.
Is it B?
4. True or False: If country A has an absolute advantage in producing many goods and services over another country B, then country A will NEVER have an incentive to trade with country B.
I want to say its False because regardless if country A has an absolute advantage it still needs to trade with country B. I think?
