Consider a market that sells some of its goods as exports. Who does NOT benefit?
A) foreign consumers
B) workers in the industry
C) domestic consumers
D) domestic producers
Answer: C) domestic consumers
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If the government were to remove rent controls from the New York City rental market, then
A) all would be harmony. B) the price paid by buyers would decrease and the quantity of rental units will decrease. C) the price received by sellers would increase and the quantity of rental units will increase. D) the price received by sellers would decrease and the quantity of rental units will decrease.
During World War II, price supports for agriculture:
a. were not generally needed because of high demand. b. were considered by Congress but never enacted. c. were rescinded in order to encourage reductions in output. d. led to decreases in the supply of many products.