Author Question: The argument that foreign trade should be restricted to protect domestic employment and output is ... (Read 67 times)

michelleunicorn · **on:** Jun 30, 2018

The argument that foreign trade should be restricted to protect domestic employment and output is based on the idea that:
a. consumers are willing to pay higher prices for domestic goods.
b. producers will not exploit reduced foreign competition by charging higher prices.
c. foreign companies are more costly to deal with than domestic companies.
d. sales of imports come at the expense of domestic goods and jobs.

Question 2

If disposable income is 400 billion, autonomous consumption is 60 billion, and MPC is 0.8, what is the level of saving?
a. 20 billion.
b. 210 billion.
c. 380 billion.
d. 590 billion.
e. 780 billion.