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.

---

Definitions:

Reservations

Designated areas of land set aside by the government for the use of Indigenous tribes, often recognized as sovereign entities.

Marriages

Legally recognized unions between individuals that establish rights and obligations between them, as well as with any offspring and in-laws.

Henry Luce

An influential American magazine magnate who co-founded Time, Life, Fortune, and Sports Illustrated, shaping 20th-century media.

The American Century

A term popularized by Time publisher Henry Luce in 1941, describing the 20th century as a period dominated by the United States in political, economic, and cultural influence worldwide.