Restrictions on free international trade designed to protect domestic industries from competitive market forces that originate beyond the borders of the country are:
A) competitive policies.
B) protectionist policies.
C) free trade policies.
D) antitrust policies.
Ans: B) protectionist policies.
Economics
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In the real world, we don't observe countries completely specializing in the production of goods for which they have a comparative advantage. One reasons for this is
A) comparative advantage works better in theory than in practice. B) because some countries also have an absolute advantage in the production of those goods. C) tastes for many traded goods are similar in many countries because of globalization. D) production of most goods involves increasing opportunity costs.
Economics
The Clean Air Act and the Clean Water Act were originally passed in
A. the 1960s. B. the 1970s. C. the 1930s. D. the 1990s.
Economics