Economists Are Generally in Support Of

question 199

Multiple Choice

Economists are generally in support of:

• A)government restrictions on trade.
• B)free international trade.
• C)tariffs to restrict trade.
• D)subsidizing exports.

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Definitions:

Local Bakery

A nearby place that specializes in baking and selling bread, pastries, cakes, and other baked goods.

Long-Run Adjustment

Economic processes or actions that firms take over time to adjust to market conditions, including changes in production capacity or entering and exiting markets.

Foreign Competition

The competitive pressure that domestic companies face from products and services offered by foreign entities in the same market.

Branch Plants

Secondary factories or operations set up by a company away from its main premises, often in different geographical locations.