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Author Question: Which of the following are TRUE regarding the argument that trade barriers protect U.S. workers from ... (Read 100 times)

Starlight

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  • Posts: 567
on: Jun 29, 2018
Which of the following are TRUE regarding the argument that trade barriers protect U.S. workers from cheap foreign labor? I. Low-wage foreigners are just as productive as U.S. workers. II. U.S. workers have a comparative advantage in low-wage jobs.
 
  A) I only
  B) II only
  C) I and II
  D) Neither I nor II is correct.

Question 2

When a market is in equilibrium, the total amount of consumer surplus must be ________ the total amount of producer surplus.
 
  A) larger than
  B) equal to
  C) less than
  D) None of the above answers are correct.


stillxalice

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

D


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