The Net Effect on Welfare from Eliminating Trade Barriers Is

question 9

Multiple Choice

The net effect on welfare from eliminating trade barriers is

• A) indeterminant.
• B) positive.
• C) negative.
• D) positive only in the short run.
• E) negative in the long run.

---

Definitions:

Universal Ethical Principles

Fundamental ethical concepts and values that are widely accepted across different cultures and societies as a basis for moral conduct.

Enlightened Egoism

A philosophical concept suggesting individuals should act in their own self-interest but also consider the long-term consequences of their actions on others, promoting mutual benefit.

Long-Term Self-Interest

The consideration of one's well-being in the future, leading to decisions that may sacrifice immediate gratification for future benefits.

Well-Being

The state of being comfortable, healthy, or happy, encompassing physical, mental, and emotional health and prosperity.