Objections to free trade
a. often come from those who are harmed by trade
b. make no sense because everyone benefits from trade
c. usually arise outside of the United States
d. are not economically rational
e. reflect a lack of understanding of the benefits of international trade
A
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A discount shoe manufacturer's advertisement suggests that they are almost as good as the name brands but better value. The shoe manufacturer believes that the advertisement will
a. Make the demand for its product more elastic b. Make his customers more price sensitive c. Cause people to directly compare his product to the name brands d. All of the above
U.S. imports are goods that are
a. produced in other countries b. consumed in other countries c. sold in other countries d. produced in the U.S. e. exported from the U.S.