Deck 9: 4: Sec 94 Mc Conclusion

Question 1

Most economists view the United States' experience with trade as

A)one from which no firm conclusions about the virtues of free trade can be reached,due to the relatively short history of international trade in the U.S.
B)one from which no firm conclusions about the virtues of free trade can be reached,due to the lack of trade within the U.S.throughout most of the early history of the U.S.
C)an ongoing experiment that confirms the virtues of free trade.
D)an ongoing experiment that calls into serious question the notion that free trade enhances the economic well-being of a nation.

Answer 1

C

Question 2

In 2008,the Los Angeles Times asked members of the American public whether free international trade has helped or hurt the economy.Of those surveyed,
a.57 percent said free international trade helped the economy.
b.26 percent said free international trade helped the economy.
c.30 percent said free international trade hurt the economy.
d.16 percent said free international trade hurt the economy.

Question 3

Economists view the fact that Florida grows oranges,Texas pumps oil,and California makes wine as

A)confirmation of the virtues of free trade.
B)confirmation of the infant-industry argument.
C)confirmation that free trade agreements are not necessary.
D)confirmation that specialization in absolute advantage works.

Answer 3

B