Who Is Likely to Be in Favor of a Country

question 68

Multiple Choice

Who is likely to be in favor of a country that would be a net-exporter if it moved from autarky to free trade?

• A) Domestic producers
• B) Domestic consumers
• C) Foreign producers
• D) Foreign governments.

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Definitions:

OECD

An international organisation that works to build better policies for better lives, promoting policies that will improve the economic and social well-being of people around the world.

Progressive Tax System

A tax system where the tax rate increases as the taxable amount or income increases, effectively imposing a higher percentage rate on those who earn more.

Regressive Tax

A tax system where the tax rate decreases as the taxable amount increases, placing a higher burden on lower-income earners relative to their income.

Income Groups

Categories of people classified according to the level of their income, often used in socio-economic and market research to analyze spending habits, needs, and trends.