List the various arguments against free trade
What will be an ideal response?
The various arguments against free trade are:
a) National security concerns
b) Fear of effects of globalization on a nation's culture.
c) Environmental and resource concerns
d) Infant industry concerns
e) Potential negative effect on local wages and jobs
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What is unemployment and what is the unemployment rate? What are the costs of unemployment?
What will be an ideal response?
If you based your estimate on how long it took poor regions of the United States to catch up to the per capita incomes of the rest of the nation, how long do you believe it would take Eastern Europe to obtain per capita incomes comparable to those of Western Europe?
a. About one year. b. About five to ten years. c. About twenty five years. d. Several generations.