Critics of Free Trade Sometimes Argue That Allowing Imports from Foreign

question 60

Multiple Choice

Critics of free trade sometimes argue that allowing imports from foreign countries costs jobs domestically.What would an economist argue

• A)Foreign competition may cause unemployment in import-competing industries, but the effect is temporary because other industries, especially exporting industries, will be expanding.
• B)Foreign competition may cause unemployment in import-competing industries, but the increase in consumer surplus due to free trade is more valuable than the lost jobs.
• C)Foreign competition may cause unemployment in import-competing industries, but the increase in producer surplus due to free trade is more valuable than the lost jobs.
• D)Foreign competition may cause unemployment in import-competing industries, but the increase in the variety of goods consumers can choose from is more valuable than the lost jobs.

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Definitions:

Hazardous Waste Disposal

The process of handling and disposing of waste materials that pose a significant risk to human health or the environment, according to regulated methods designed to minimize harm.

Developing Countries

Nations characterized by a lower living standard, underdeveloped industrial base, and low Human Development Index relative to other countries.

Higher Safety Standards

Enhanced or elevated measures and regulations implemented to ensure the well-being and protection of individuals and environments.

Carbon Emissions Per Capita

A measure of the total amount of carbon dioxide emissions produced by a country, divided by the country's population, indicating the average carbon footprint per person.