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  • Which of the following arguments for trade barriers offers potential benefits to consumers? #251
  • Two large countries currently impose tariffs against each other. Each country would be better off with free trade. Which of the following statements are true? Each country might think 'if the other country maintains its tariff, we will be better off maintaining our tariff.' Each country may think 'if the other country unilaterally abolishes its tariff, we may be better off maintaining our tariff. #252
  • Scholars at MIT recently tested the theory of comparative advantage. One problem with doing this is that #253
  • Which of the following statements is false? #254
  • International trade contributes and increases the world … #255
  • The ratio of trade to GDP was as high as … in 1913. #256
  • Free international trade maximizes world output through …. #257
  • Domestic company limits it’s operations to … political boundaries. #258
  • Trade between two or more than two countries is known as …. #259
  • …refers to the tax imposed on imports. #260
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