A major reason why it is difficult to lower the barriers to free trade is
A) that total benefits are less than total costs from free trade.
B) the uneven distribution of gains and losses from free trade.
C) the loss of jobs without any gain of jobs from free trade.
D) the inability to compensate losers from free trade.
E) that the barriers allow us to compete with cheap foreign labor.
Question 2
Crisps and Smith's are the only two bakeries that sell cookies in a small community. Crisps sells butter cookies while Smith's sells chocolate cookies.
Which of the following will happen if Smith's lowers its price for cookies slightly below Crisps's price? A) Crisps will lose all its customers to Smith's.
B) Smith's will lose all its customers to Crisps.
C) Crisps will face a lower demand for its cookies.
D) Smith's will face a lower demand for its cookies.
Barriers to change
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