Economists and Laypeople See the Pros and Cons of International

question 24

Multiple Choice

Economists and laypeople see the pros and cons of international trade in different ways. Which of the following is one of those ways?

• A) Laypeople enjoy the benefits of trade in terms of lower consumer prices.
• B) Laypeople believe in the law of one price and economists do not.
• C) Laypeople tend to think of foreign trade only in terms of manufactured goods.
• D) Laypeople recognize that the United States has a comparative advantage in services.

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Definitions:

Acquisitions Editor

An editor who identifies, negotiates, and procures manuscripts or books for publishing.

Demographic Profiling

The process of gathering and analyzing data about the characteristics of a population or specific group for targeted marketing or analysis.

Tax Saving Plan

A financial strategy or investment designed to reduce the amount of taxes payable by an individual or organization.

Psychographic Profiling

A marketing technique that categorizes audiences based on their personality traits, interests, values, and lifestyles to better target advertising and communications.