Which of the Following Statements Is TRUE

question 39

Multiple Choice

Which of the following statements is TRUE?

• A) Free trade is beneficial only if your country is strong enough to stand up to foreign competition.
• B) Free trade is beneficial only if your competitor does not pay unreasonably low wages.
• C) Free trade is beneficial only if both countries have access to the same technology.
• D) Free trade is never beneficial for developing countries.
• E) Free trade can be beneficial to economic welfare of all countries involved.

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Definitions:

Majoritarianism

A traditional political philosophy that emphasizes the majority's right in making decisions that affect the society or group.

Political Theory

A branch of social science that deals with the study and analysis of political ideas, behaviors, and practices.

Elite Theory

Elite theory proposes that a small, cohesive group of elites holds the most power in society, and this power is largely independent of democratic elections.

Capitalism

An economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods that are determined mainly by competition in a free market.