Question 1

The results of a 2008 Los Angeles Times poll suggest that a significant majority of Americans believe that free international trade helps the American economy.

Accepted Answer

The 2008 Los Angeles Times poll actually found that a significant majority of Americans believed that free international trade was bad for the American economy, reflecting concerns about job losses and the impact on domestic industries.

Question 2

The results of a 2008 Los Angeles Times poll suggest that the percentage of Americans who believe trade is harmful to the economy exceeds the percentage of Americans who believe trade is beneficial to the economy.

Accepted Answer

The statement accurately reflects the results of the 2008 Los Angeles Times poll.

Question 3

What are the arguments in favor of trade restrictions,and what are the counterarguments? According to most economists,do any of these arguments really justify trade restrictions? Explain.

Accepted Answer

The answer of What are the arguments in favor of...

Question 4

How does an import quota differ from an equivalent tariff?

Accepted Answer

The answer of How does an import quota differ from...

Question 5

Characterize the two different approaches a nation can take to achieve free trade.Does one approach have an advantage over the other?

Accepted Answer

The answer of Characterize the two different approaches a nation...

Question 6

Most economists view the United States as an ongoing experiment that raises serious doubts about the virtues of free trade.

Accepted Answer

This statement is not accurate. While there may be some economists who have doubts about free trade, the majority still view it as a generally beneficial policy for increasing economic growth and overall welfare.

Quiz 9: Application: International Trade