From an Economic Perspective, Studies of the Costs of Trade

question 266

Multiple Choice

From an economic perspective, studies of the costs of trade barriers show that they

• A) are outweighed by the reduction in foreign competition provided by the barriers.
• B) are much less than benefits for domestic producers and workers.
• C) are about equal to the benefits from trade barriers.
• D) far exceed their benefits for society.

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Definitions:

Global Entry Strategies

Approaches and methods used by companies to enter international markets and establish a presence in global business.

Organic Yogurt

Yogurt made from milk produced by organic farming methods, without the use of synthetic fertilizers or pesticides.

Least Risky Strategy

describes the approach or plan of action that exposes an entity to the minimal amount of risk or potential for loss.

Rapidly Aging Population

A demographic trend where the median age in a population increases significantly due to rising life expectancy and/or declining birth rates.