Multiple Choice
Belize, a country in Central America, has a small coffee industry. Suppose Belize does not have free trade but it has comparative advantage in coffee production. If Belize allowed international trade, what would be the gains from trade?
A) Belize coffee producers would gain from trade.
B) Belize coffee consumers would gain from trade.
C) Belize would gain tariff revenue from trade.
D) All of these answers are gains from trade.
Correct Answer:
Verified
Correct Answer:
Verified
Q28: Tariffs<br>A) generate revenue for consumers.<br>B) generate revenue
Q29: The Smoot-Hawley Act introduced<br>A) opportunities for expanding
Q30: Some observers opposing free trade argue that
Q31: The United States decides to follow its
Q32: Give a brief description of the history
Q34: During 2010, as oil and gas prices
Q35: The U.S. government imposes an import quota
Q36: In poorer countries, free trade _ the
Q37: Suppose that the country of Pacifica imposes
Q38: Increasing a tariff will _ the domestic