One Reason for the Success That Firms Have in Getting

question 128

Multiple Choice

One reason for the success that firms have in getting the government to erect barriers to foreign competition is that jobs lost to foreign competition are easy to identify but jobs created by foreign trade are often hard to identify.Which of the following is a second reason?

• A)The costs that tariffs and quotas impose on consumers are large in total but relatively small per person.
• B)People who benefit from foreign trade tend not to vote in elections; people who are harmed by foreign trade are much more likely to vote.
• C)Firms that benefit from trade barriers have more money to lobby government officials to support the barriers than do firms that are harmed by trade barriers.
• D)The benefits from free trade are less than the costs.

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Definitions:

Pennsylvania

A state located in the Northeastern, Great Lakes, Appalachian, and Mid-Atlantic regions of the United States, known for its rich history and diverse landscapes.

Bacon's Rebellion

A 1676 armed rebellion in Virginia, led by Nathaniel Bacon against the rule of Governor William Berkeley, which was motivated by grievances over governance, policy toward Native Americans, and land.

Causes

The reasons or motivations behind an event or action that lead to specific outcomes.

Consequences

The outcomes or effects that result from a particular action or set of conditions, often discussed in the context of decision-making and behavior.