Economists argue for free trade in export markets because
A) all consumers and producers benefit from exporting goods.
B) the gains to the U.S. producers outweigh the losses to the U.S. consumers.
C) the gains to the U.S. consumers outweigh the losses to the U.S. producers.
D) no one is made worse off by exporting goods.
E) exporting goods decreases total surplus.
B
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The pattern of protection in industrial countries is particularly harmful to the interests of
A) low-income developing countries. B) high-income industrial countries. C) Asian nations. D) European nations. E) None of the above.
Which of the following can expand the production possibilities frontier?
a. Improved patent laws b. Legal reforms that increase transaction costs c. Reductions in the length of patent protection d. Stringent tax laws for R&D companies e. The advent of a labor deepening technology