If import restrictions prohibit foreigners from selling various goods and services in the U.S. market,
What will be an ideal response?
foreigners will have fewer U.S. dollars with which to buy U.S. goods and services.
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Society's rate of time preference is
A) the extra amount people would be willing to pay to have consumption goods in the future instead of now. B) the value that people place on the time saved by purchasing capital goods rather than consumer goods. C) the extra amount people would be willing to pay to have consumption goods now instead of the future. D) is negative if people prefer present consumption to future consumption.
Public goods differ from private goods in that:
a. they produce negative externalities. b. they are not scarce. c. their benefits cannot be denied to anyone. d. their consumption must be regulated by the government. e. their benefits are very narrow.