Does free trade improve the living standards of all residents of a country?
A) Yes,because inefficient import- competing industries are replaced with efficient export industries.
B) Yes,definitely,because the gains from trade outweigh the losses in the import- competing industries.
C) Probably not - in principle,the net gains from trade could be divided such that every individual is better off,but in practice,some individuals are likely to be worse off.
D) No,because the losses in the import- competing industries outweigh the gains from trade in the new export industries.
E) No,because the benefits from free trade are only theoretical.
Correct Answer:
Verified
Q40: Trade- remedy policies commonly used to achieve
Q41: The diagram below shows the domestic demand
Q42: The effect of imposing a tariff on
Q43: The diagram below shows the domestic demand
Q44: The diagram below shows supply and demand
Q46: If a tariff is imposed by a
Q47: Suppose that a Canadian brewery sells beer
Q48: The diagram below shows supply and demand
Q49: When a country chooses to protect domestic
Q50: A country can impose a tariff to
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents