Chapter 31: Problem 15
Our trade deficit with China in 2009 was (LO7) a) under \(\$ 100\) billion b) between \(\$ 100\) billion and \(\$ 150\) billion c) between \(\$ 150\) billion and \(\$ 200\) billion d) over \(\$ 200\) billion
Chapter 31: Problem 15
Our trade deficit with China in 2009 was (LO7) a) under \(\$ 100\) billion b) between \(\$ 100\) billion and \(\$ 150\) billion c) between \(\$ 150\) billion and \(\$ 200\) billion d) over \(\$ 200\) billion
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Get started for freeThe least applicable argument for protecting American industry from foreign competition would be the argument. (LO4) a) national security c) low-wage b) infant industry d) employment
Which statement is false? (LO3) a) No nation will engage in trade with another nation unless it will gain by that trade. b) The terms of trade will fall somewhere between the domestic exchange equations of the two trading nations. c) Most economists advocate free trade. d) None of these statements is false.
Of these three choices - tariffs, quotas, and free trade-economists like the most and the least. (LO5) a) tariffs, quotas d) free trade, quotas b) tariffs, free trade e) quotas, free trade c) free trade, tariffs f) quotas, tariffs
Imports would be lowered by \((\mathrm{LO5})\) a) tariffs only b) import quotas only c) both tariffs and import quotas d) neither tariffs nor import quotas
Which one of the following statements is the most accurate? (LO11) a) Our economy would be much better off if the entire globalization process were reversed. b) The globalization process creates billions of winners and no losers. c) The process of globalization could easily be reversed if Congress and the president were willing to act. d) Globalization ensures a more efficient allocation of resources throughout the world.
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