Which of the Following Statements Describes Reasons Why Free Trade

question 88

Multiple Choice

Which of the following statements describes reasons why free trade is beneficial for the United States?

• A) Free trade increases consumer surplus for imported goods that are cheaper than U.S. goods.
• B) Free trade directs U.S. resources to those goods and services for which the United States has a comparative advantage.
• C) Through specialization, the United States and its trading partners can use the same overall amount of resources to produce and consume a larger amount of goods.
• D) All of the statements are correct.

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Definitions:

Aqueous Fluid

The clear, watery fluid found between the lens and the cornea of the eye, serving to maintain intraocular pressure and provide nutrition to the eye’s avascular tissues.

Cornea

The transparent covering of an eye.

Photoreceptors

Specialized cells found in the retina of the eye that are sensitive to light, allowing for the perception of vision.

Self-Concept

Domain-specific self-evaluations.