The most successful free trade agreements achieve all of the following goals, except:
a. benefiting exporters by increasing exports to member countries.
b. ensuring that production occurs on the basis of comparative advantage.
c. benefiting consumers by making a wider variety of goods available at a lower price.
d. stimulating trade creation to allow the benefits of trade to be realized.
e. protecting domestic industries from foreign competition.
Question 2
The trade-creation effect refers to:
a. a reduction in economic efficiency as a result of a preferential trade agreement.
b. a production shift to a higher-cost producer as a result of a preferential trade agreement.
c. the outcome of a preferential trade agreement that allows a country to obtain goods at a lower cost than is available at home.
d. diversion of production from a country that has comparative advantage.
e. a production shift to a country that does not have comparative advantage.
Should society strive to achieve equality in the family?
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