Which of the following is not a problem with trade restrictions?
a. the high cost of rent-seeking activities such as lobbying
b. the high cost of enforcement
c. the unintended effects on related industries
d. the inability to save U.S. jobs in the short run in industries that compete with imports
e. the possibility of retaliation
D
Economics
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The face value of money or income is called its ________ value
A) external B) real C) marginal D) nominal
Economics
A government-imposed price floor above the market price of milk would increase consumers' expenditures on milk only if
a. demand is elastic b. supply is inelastic c. demand falls d. demand is inelastic e. supply is unit elastic
Economics