Author Question: The replacement of foreign manufactured goods by domestically manufactured goods is called _____. ... (Read 127 times)

waynest · **on:** Jun 30, 2018

The replacement of foreign manufactured goods by domestically manufactured goods is called _____.
a. import swap
b. export substitution
c. primary production
d. import substitution
e. trade protectionism

Question 2

A tax in an industry would result in:
a. a decrease in consumer surplus.
b. a decrease in producer surplus
c. a decrease in the gains from trade.
d. all of the above.