Economists Agree That Trade Ought to Be Restricted If Free

question 133

True/False

Economists agree that trade ought to be restricted if free trade means that domestic jobs might be lost because of foreign competition.

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Definitions:

Implied Authority

Authority of an agent that is not explicitly granted but rather inferred from the nature of the job or previous conduct between the agent and the principal.

Partnership Property

Assets or property owned by a partnership, as opposed to personal property owned by the individual partners.

Nature Of The Business

Describes the fundamental operations and activities in which a business is engaged.

Allocation Of Losses

The process by which losses are distributed among various parties, such as insurance companies or individuals, often according to a pre-determined formula or agreement.