The national defense argument for trade protectionism holds that
A) what is good for business is good for the country.
B) what is good for consumers is good for the country.
C) consumers' surplus rises by more than producers' surplus falls.
D) producers' surplus rises by more than consumers' surplus falls.
E) none of the above
E
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The overall effect of accounting for purchases of foreign goods in GDP reduces GDP
a. True b. False Indicate whether the statement is true or false
The relationship of dead capital to inefficient production is
A. that outdated equipment will lead to inefficient production. B. nonexistent since the capital is already dead. C. that without clear ownership it is not possible to sell or transfer a resource so that it can be used efficiently. D. that when the dead capital is replaced by more technologically advanced capital, economic growth occurs.