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A group opposed to free trade concludes that the total number of domestic jobs will decrease because it estimates that 20,000 jobs will migrate abroad. The actual total loss is:
a) probably greater than 20,000 because of the tariff effect.
b) probably greater than 20,000 because of the multiplier effect.
c) probably equal to 20,000 because of the import effect.
d) less than 20,000 because the estimate ignores the jobs created in the industries that benefit from increased exports.
Suppose that it take $100,000 of steel to produce $2,000,000 of cars. If the nominal tariff on steel is 10% for the steel and 20%for cars, what is the effective rate of protection for the steel industry?
A firm in the early stages of the industry life cycle will likely have _________ .
wicksteed made a significant contribution to value theory during the marginal utility revolution. this contribution was
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Illustrate what are some examples of goods which the U.S. has comparative advantage in producing.
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