Answer to Question #190265 in Macroeconomics for James

Question

QUESTION 1

What is the annual cost per job saved through protectionism in the ball bearing industry?

1. $200,000.
2. $400,000.
3. $600,000.
4. $800,000.
5. $1 million.

QUESTION 2

The U.S.:

1. Is the only country that trades.
2. Is less internationally connected than most countries.
3. Is more internationally connected that most countries.
4. All of the above.
5. None of the above.

QUESTION 3

Protectionism is simply a method of:

1. Requiring consumers to subsidize producers.
2. Requiring producers to subsidize consumers.
3. Requiring consumers to subsidize themselves.
4. Requiring producers to subsidize themselves.
5. All of the above.

QUESTION 4

It is difficult to find evidence of:

1. Predatory pricing by foreign firms exporting to the U.S.
2. Infant industries.
3. Protectionism.
4. All of the above.
5. None of the above.

Answer 1

1. $600,000
2. None of the above.
3. Requiring consumers to subsidize producers.
4. Predatory pricing by foreign firms exporting to the U.S.