Why is free trade considered beneficial when consumers pay higher prices for products than they would have within a strictly domestic market?
a. Economists place more emphasis on producers and supply than they do on consumers and demand.
b. Losses experienced within the domestic market are offset by gains within developing countries.
c. The higher prices paid within the domestic market are temporary and usually decline in time.
d. Negative effects experienced by consumers are offset by gains experienced by producers.
d. Negative effects experienced by consumers are offset by gains experienced by producers.
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Farmers can plant either corn or soybeans in their fields. Which of the following would cause the supply of soybeans to increase?
A) an increase in the price of soybeans B) an increase in the demand for corn C) a decrease in the price of corn D) an increase in the price of soybean seeds
Loans are: a. assets of banks, liabilities of borrowers. b. liabilities of banks, assets of borrowers. c. assets of banks and their borrowers
d. liabilities of banks and their borrowers.