Congressman Smith Cites the "Jobs Argument" When He Argues in Favor

question 23

Multiple Choice

Congressman Smith cites the "jobs argument" when he argues in favor of restrictions on trade;he argues that everything can be produced at lower cost in other countries.The likely flaw in Congressman Smith's reasoning is that he ignores the fact that

• A)there is no evidence that any worker ever lost his or her job because of free trade.
• B)unemployment of labor is not a serious problem relative to other economic problems.
• C)the gains from trade are based on comparative advantage.
• D)the gains from trade are based on absolute advantage.

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Definitions:

Accountant's Property

This term is not standard; it might refer to assets or property managed or overseen by an accountant but lacks a clear, established definition. NO.

Right of Access

A legal or policy-based entitlement allowing individuals to obtain information or enter a place.

Regulatory Deadline

A specific date by which a requirement set forth by a regulatory authority must be met.

Pay a Fine

The act of giving money as a penalty for violating a rule or law.