What Is the Ricardo-Viner Explanation for Trade-Policy Preferences

question 45

Multiple Choice

What is the Ricardo-Viner explanation for trade-policy preferences?

• A)A country's government will usually prefer to protect owners of capital.
• B)The interests of groups in society toward trade are determined by the factor of production of which they are part.
• C)The interests of factors of production are often determined by the industry sector,rather than by the factor of production.
• D)A country will import goods that make intensive use of the resources a country has in abundance.
• E)A country will impose tariffs on goods that compete with goods made using its most abundant factor intensively.

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Definitions:

Civil War

A conflict from 1861 to 1865 in the United States between the northern states (Union) and southern states (Confederacy) primarily over the issues of slavery and states' rights.

California

A U.S. state on the west coast, known for its diverse geography, significant economic contributions, and cultural impact.

Economic Freedom

The ability of individuals and businesses to make their own economic decisions without undue government intervention, including property rights, free trade, and access to markets.

Gold Discovery

generally refers to the finding of gold resources, notably the California Gold Rush of 1849 which led to massive migration and economic expansion.