Economists and laypeople see the pros and cons of international trade in different ways. Which of the following is one of those ways?
A) Laypeople enjoy the benefits of trade in terms of lower consumer prices.
B) Laypeople believe in the law of one price and economists do not.
C) Laypeople tend to think of foreign trade only in terms of manufactured goods.
D) Laypeople recognize that the United States has a comparative advantage in services.

Question

Quizplus · Accepted Answer

Laypeople often focus on tangible goods when considering international trade, whereas economists consider a broader range of factors, including services and comparative advantages.

Economists and Laypeople See the Pros and Cons of International