Question One feature of the U.S. and other nominally free market capitalist economies are constant calls for government to interfere in the operation of the market.
These proposed intrusions take many forms--taxes, regulations, restrictions on trade, quotas, and banning production, trade and consumption of selected goods.
Pick all that apply to the question
1 In the case of international trade, removing restrictions on imports, e.g. tariffs and trade bans, would make consumers better off by lowering prices..
2 In the case of international trade, removing restrictions on imports, e.g. tarriffs and trade bans, the gain to consumers far outweighs the loss to selected domestic workers and producers leaving the general population better off overall.
3 In the case of international trade, removing restrictions on imports, e.g. tariffs and trade bans, would make owners and workers at firms competing with imports worse off.
4 None of the answers are correct.
5 In the case of international trade, restrictions on imports, e.g. tariffs and trade bans, are an example where eliminating those restrictions would create a large benefit to the general population and a small loss to firms that would face competition from overseas firms.
Question One feature of the U.S. and other nominally free market capitalist economies are constant calls for government to interfere in the operation of the market.
These proposed intrusions take many forms--taxes, regulations, restrictions on trade, quotas, and banning production, trade and consumption of selected goods.
Pick all that apply to the question
1 In the case of international trade, removing restrictions on imports, e.g. tariffs and trade bans, would make consumers better off by lowering prices..
2 In the case of international trade, removing restrictions on imports, e.g. tarriffs and trade bans, the gain to consumers far outweighs the loss to selected domestic workers and producers leaving the general population better off overall.
3 In the case of international trade, removing restrictions on imports, e.g. tariffs and trade bans, would make owners and workers at firms competing with imports worse off.
4 None of the answers are correct.
5 In the case of international trade, restrictions on imports, e.g. tariffs and trade bans, are an example where eliminating those restrictions would create a large benefit to the general population and a small loss to firms that would face competition from overseas firms.
