Can economic theory prove national restrictions on international trade will reduce global welfare?
A) No, but it can demonstrate that they will reduce the welfare of the nations that impose the restrictions.
B) No, but it can demonstrate that they reduce efficiency.
C) No, but it can predict which groups will be made worse off or better off.
D) Yes, if welfare is defined as economic welfare.
C
Economics
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"Crowding in" refers to federal government deficits:
A. used for public infrastructure that will offset any decline in business investment. B. which reduce private business and consumption spending. C. which reduce future rates of economic growth. D. when the economy is at full employment.
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Some countries have economies that are extremely market-oriented, while other countries have ___________ economies.
a. private b. textile c. command d. internal
Economics