Which of the following is NOT a true statement regarding free trade?
A. Free trade generally reduces the domestic prices of imports.
B. Free trade may stimulate economic growth through export sales.
C. Every individual in a country gains short-term benefits from free trade.
D. Free trade promotes specialization and efficient production.
Answer: C
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Which of the following would cause movement downward along the demand curve for a normal good, leading to an increase in quantity demanded?
a. A decrease in the price of a substitute good b. An increase in the price of a complementary good c. A decline in the price of the good d. Consumer expectations that the good will become more expensive in the near future
Marginal cost is the ________ associated with a particular increase in an activity
A) total cost B) additional cost C) opportunity cost D) forgone cost