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Author Question: Many economists criticize protectionism because it causes losses to consumers and eliminates jobs in ... (Read 95 times)

vHAUNG6011

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Many economists criticize protectionism because it causes losses to consumers and eliminates jobs in domestic industries that use protected products. Why, then, do some people support protectionism?
 
  A) Supporters of protectionism in high-income countries believe that wages will fall as a result of competition with firms from developing countries.
  B) Supporters of protectionism believe that free trade will lead to inflation.
  C) The criticisms of economists are based on theory. In fact, protectionism increases consumer and producer surplus as well as employment.
  D) Supporters of protectionism believe free trade will cause their countries to lose their comparative advantage.

Question 2

If a firm has implicit costs as well as explicit costs
 
  A) accounting profit will be zero.
  B) net income will always be greater than accounting profit.
  C) net income will always be less than accounting profit.
  D) economic profit will be less than accounting profit.


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bookworm410

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vHAUNG6011

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Reply 2 on: Jun 29, 2018
Wow, this really help


phuda

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Reply 3 on: Yesterday
:D TYSM

 

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