Author Question: If international trade is restricted by the government: a. domestic consumers are benefited. b. ... (Read 159 times)

mikaylakyoung · **on:** Jun 30, 2018

If international trade is restricted by the government:
a. domestic consumers are benefited.
b. domestic producers are adversely affected.
c. consumers in the importing country are required to pay higher prices for the goods.
d. consumers can access to better quality product at lower prices.
e. the resources are allocated to their highest paid uses.

Question 2

Which of the following is one reason why trade makes all parties better off?
a. Because it always expands the amount of domestic production of each good and service, and more is preferred to less.
b. Because it permits all parties to acquire some items better suited to their tastes.
c. Because it makes people appreciate what they have, and they are happier.
d. Because it encourages consumption rather than saving.