If adjustment costs associated with removing trade restrictions are high, then
A) consumers will end up worse off because government payments to workers who lost their jobs will increase.
B) the benefits of free trade can be used to compensate workers who lost their jobs.
C) the benefits of free trade will be negative.
D) there are no benefits of free trade.
E) None of these
Correct Answer:
Verified
Q177: The average tariff level reached a high
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Q180: The United States imposes quotas on sugar.
Q181: Many economists consider antidumping duties
A)conducive to free
Q183: The cost to consumers of imposing antidumping
Q184: What was the purpose of the Smoot-Hawley
Q185: Unlike in developed countries, revenue tariffs are
Q186: As tariffs were being reduced in the
Q187: When trade restrictions are removed,
A)unemployment will increase
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