Which of the Following Statements Correctly Summarizes a Difference Between

question 67

Multiple Choice

Which of the following statements correctly summarizes a difference between the layperson's and the economist's views of the net benefits of trade?

• A) Economists often argue that the gains from trade in the form of low consumer prices tend to be widespread and not easily recognizable while the costs in jobs lost tend to be concentrated and readily identifiable.
• B) Economists often argue that most U.S. jobs are at risk of outsourcing while laypeople intuitively recognize that inherent in comparative advantage is that each country has a comparative advantage in the production of some good.
• C) Economists focus on trade in manufactured goods while laypeople also focus on trade involving the services of people who manage the trade.
• D) Economists most often argue that the costs of trade outweigh the benefits while laypeople often argue that the benefits of trade outweigh the costs.

---

Definitions:

Loan Applications

Formal requests submitted by individuals or entities to borrow money from lenders, often requiring personal and financial information.

Research Resources

Various sources of information used for conducting research, including library catalogs, academic journals, and databases.

Informal Work Environment

A workplace setting that is relaxed and casual, often with few strict rules or formalities governing employee behavior.

Unclearly Defined Office Procedures

Office or administrative processes which are not explicitly explained or documented, leading to confusion and inefficiency among staff.