During the Great Depression, many industrial countries tried protecting domestic jobs by raising tariffs. Economic theory would suggest that the result would be
A) success for only the countries that raised tariffs first.
B) success for firms that had a comparative advantage in manufactured goods rather than agricultural goods.
C) reduced exports and volume of trade for everyone.
D) increased incomes in the countries that pursued this policy.
C
Economics
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The marginal benefit from a good is the amount a person is willing to pay for
A) all of the good the person consumes. B) one more unit of the good. C) all of the units of the good the person consumes divided by the number of units he or she purchases. D) one more unit of the good divided by the number of units purchased.
Economics
Which of the following is not considered a renewable resource:
A. sunlight. B. oil. C. wind. D. All of these are renewable resources.
Economics