Cost-Benefit Analysis of International Trade

question 18

Multiple Choice

Cost-benefit analysis of international trade

• A) is basically useless.
• B) is empirically intractable.
• C) focuses attention primarily on conflicts of interest within countries.
• D) focuses attention on conflicts of interest between countries.
• E) never leads to government intervention in international trade.

---

Definitions:

Equilibrium Rent

The rental price at which the quantity of properties landlords are willing to lease equals the quantity that tenants are willing to rent.

Quota

A type of trade restriction that limits the quantity of a good that can be imported or exported during a specific time period.

Market

Any structure that allows buyers and sellers to exchange any type of goods, services, and information.

Medallions

Licenses or permits, often used in reference to the system regulating taxis where a limited number of medallions are issued, granting the right to operate a cab.