When economists David Gould, G.L. Woodbridge, and Roy Ruffin examined the data on the relationship between increases in imports and the rate of unemployment, they concluded that
A) free trade leads to increased unemployment.
B) there is not a casual link between increases in imports and the rate of unemployment.
C) increases in imports always precede increases in unemployment by a period of 6 months to one year.
D) increases in unemployment always precede increases in imports by a period of 6 months to one year.
Ans: B) there is not a casual link between increases in imports and the rate of unemployment.
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a. social cost; private cost b. private cost; social cost c. social cost; social benefit d. private cost; social benefit e. social cost; external cost
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