Which of the Following Statements Correctly Summarizes a Difference Between

question 67

Multiple Choice

Which of the following statements correctly summarizes a difference between the layperson's and the economist's views of the net benefits of trade?

• A) Economists often argue that the gains from trade in the form of low consumer prices tend to be widespread and not easily recognizable while the costs in jobs lost tend to be concentrated and readily identifiable.
• B) Economists often argue that most U.S. jobs are at risk of outsourcing while laypeople intuitively recognize that inherent in comparative advantage is that each country has a comparative advantage in the production of some good.
• C) Economists focus on trade in manufactured goods while laypeople also focus on trade involving the services of people who manage the trade.
• D) Economists most often argue that the costs of trade outweigh the benefits while laypeople often argue that the benefits of trade outweigh the costs.

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Definitions:

Forebrain

The anterior part of the brain, including the cerebral hemispheres, the thalamus, and the hypothalamus, responsible for a variety of functions including cognition, sensory processing, and motor responses.

Neocortex

The most evolved part of the cerebral cortex that involves higher functions such as sensory perception, generation of motor commands, spatial reasoning, conscious thought, and in humans, language.

Gray Matter

The darker part of the brain and spinal cord consisting mainly of neuronal cell bodies, dendrites, and unmyelinated axons, and is involved in processing information.

White Matter

White matter refers to the pale-colored part of the central nervous system that consists mostly of myelinated nerve fibers and serves to transmit signals within the brain.