Suppose That in the Absence of Trade, the U

question 92

Essay

Suppose that in the absence of trade, the U.S. price for bicycles was higher than the world price for bicycles. Would allowing international trade, mean that the U.S. would import or export bicycles? Who in the U.S. would benefit and who would lose with a free trade policy, and would the gains be greater than the losses?

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Definitions:

Psychologists

Professionals specialized in the study of the mind and behavior, working in various fields such as clinical, counseling, educational, and research settings.

Discriminate

To differentiate or make a distinction in treatment or preference often based on prejudicial grounds.

Spanked

Punished by hitting on the buttocks with an open hand, a disciplinary action often used on children.

Unwanted Behavior

Actions or responses that are considered undesirable or inappropriate within a given context or society.