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| Economics multiple choice questions? ok for these i read through the chapter and cant find anything and im not even sure of the answers.. 1) Nations engage in trade b/c: a. world resources are evenly distributed among nations b. world resources are unevenly distributed among nations c. all products are produced from the same technology d. all products are produced from the same combinations of resources 2) Tariffs lead to: a. to contraction of relatively efficient industries b. an overallocation of resources to relatively efficient industries c. an increase in the foreign demand for domestically produced goods d. an underallocation of resources to relatively inefficient industries 3)Tariffs and quotas are costly to consumers b/c: a. the price of the imported good rises b. the supply of the imported good increases c. import competition increases for domestically produced goods d. consumers shift purchases away from domestically produced goods thanks for the help! |
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