One argument against free trade is the
A) comparative advantage argument.
B) absolute advantage argument.
C) considerate advantage argument.
D) infant industry argument.
Answer: D
Economics
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After a shift from AD0 to AD1, which of the following patterns of adjustment is consistent with the "Price Fooling" model?
A) A to B to E B) A to F to E C) A to C to E D) A to C to A
Economics
The theory of monopolistic competition predicts that in long-run equilibrium a monopolistically competitive firm will:
A. produce the output level at which price equals long-run marginal cost. B. operate at minimum long-run average cost. C. overutilize its insufficient capacity. D. produce the output level at which price equals long-run average cost.
Economics