20. International trade and domestic trade differ because of: Different government policies b. Trade restrictions O c. Immobility of factors O d. All of the above

Principles of Economics 2e
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ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter34: Globalization And Protectionism
Section: Chapter Questions
Problem 5SCQ: How does international trade affect working conditions of low-income countries?
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20. International trade and domestic trade differ because of:
a. Different government policies
O b. Trade restrictions
C. Immobility of factors
d. All of the above
Transcribed Image Text:20. International trade and domestic trade differ because of: a. Different government policies O b. Trade restrictions C. Immobility of factors d. All of the above
17. When a large country imposes an import tariff on good X
World prices of good X increase
b. Consumer surplus in the large country increases.
C. World prices of good X decrease
O d. Domestic production of good X decreases
Transcribed Image Text:17. When a large country imposes an import tariff on good X World prices of good X increase b. Consumer surplus in the large country increases. C. World prices of good X decrease O d. Domestic production of good X decreases
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