Suppose That in the Absence of Trade, the U

question 98

Essay

Suppose that in the absence of trade, the U.S. price for peas was lower than the world price for peas. Would allowing international trade mean that the United States would import or export peas? Who in the United States would benefit and who would lose with a free trade policy, and would the gains be greater than the losses?

---

Definitions:

Double Blind Procedure

A research method in which both the participants and the experimenters are unaware of who is receiving a particular treatment, used to prevent bias in experimental results.

Single Blind Procedure

A research design in which participants are unaware of whether they are in the experimental or control group, but the researchers know.

Neutral Sample Procedure

A method in research where the sample is selected without bias towards any outcome or hypothesis.

Blind Sample Procedure

An experimental technique in which information about the test samples is kept from the participants to prevent bias in the results.