The Gains from Free Trade Are Enjoyed by a ________

question 23

Multiple Choice

The gains from free trade are enjoyed by a ________ number of people and the costs of free trade are imposed on a ________ number of people.

• A)small;large
• B)large;small
• C)small;small
• D)large;large
• E)We can't determine the relative number of people who benefit and lose from free trade.

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Definitions:

Machining

A manufacturing process involving the cutting, shaping, or finishing of material, typically metal, using machine tools.

Customizing

The process of modifying or creating products or services according to the customer's or user's specific needs.

Predetermined Overhead Rate

An estimated rate used to allocate manufacturing overhead to products or job orders based on a certain activity base.

Machine-Hours

A measure of the amount of time a machine is operated within a specific period, often used for allocating machine costs to products.