Which Policy Reflects the Notion That If Society Enjoys Gains

question 56

Multiple Choice

Which policy reflects the notion that if society enjoys gains due to increased efficiency stemming from trade liberalization,some sort of compensation should be provided to those who are temporarily hurt by import competition?

• A) Countervailing duties
• B) Trade adjustment assistance
• C) Domestic subsidies
• D) Most-favored-nation standard

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Definitions:

Consumption

The use of goods and services by households or individuals, often analyzed to understand economic activity and consumer behavior.

Bushels

A bushel is a unit of volume that is used in the United States for measuring quantities of agricultural produce such as grains, fruits, and vegetables.

Harvest

The process or period of gathering in crops.

Grain

Small, hard, dry seeds, with or without attached hulls or fruit layers, harvested for human or animal consumption, and used across various industries.