The Gains from Trade

question 31

Multiple Choice

The gains from trade

• A)are likely realized in the long run when workers and firms have had the time to adjust to the new competitive environment.
• B)are immediately realized in the short run, when governments drop protectionist policies.
• C)are smaller than the costs of adjustment.
• D)none of the above

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Definitions:

Ethical Guidelines

refer to the codes of conduct proposed by organizations to guide members in making decisions that are moral, ethical, and socially responsible.

American Psychological Association

A professional organization representing psychologists in the United States, dedicated to advancing the science and profession of psychology.

Social-Cognitive Perspective

A viewpoint in psychology that emphasizes the importance of observational learning, self-efficacy, situational influences, and cognitive processes in understanding behavior.

John B. Watson

An American psychologist who established the psychological school of behaviorism, emphasizing the study of observable behavior and rejecting the notion of internal processes.