215. Economists examine pollution from the perspective of the: A) preferences of

Question

215. Economists examine pollution from the perspective of the:
A) preferences of people.
B) intensity and duration of the harm to resources.
C) desires of government bureaucrats.
D) intent of business firms in the maximization of profits.

212. Free trade is beneficial because it:
A) reduces competition.
B) leads to less use of the world's resources.
C) results in a wider array of consumer products.
D) leads to the production of free goods.

206. If a country has a comparative advantage in the production of a good:
A) it can produce that good at a lower opportunity cost.
B) it will find trade most beneficial when it trades with another country that has a comparative advantage in the same good.
C) it will not find trade beneficial because other country(ies) won't have a comparative advantage in other goods.
D) it must also have an absolute advantage in the good.

203. Which of the following statements is true?
A) Nations have generally moved toward freer international trade policies over the past few decades.
B) Nations all over the world have recently raised trade barriers.
C) Eastern Europe and the Former Soviet Union countries have reduced trade in the last decade.
D) NAFTA lowered trade barriers between the United States and Mexico but raised them between the United States and Canada.

Explanation / Answer

215. Economists examine pollution from the perspective of the: B) intensity and duration of the harm to resources. 212. Free trade is beneficial because it: C) results in a wider array of consumer products. 206. If a country has a comparative advantage in the production of a good: B) it will find trade most beneficial when it trades with another country that has a comparative advantage in the same good. 203. Which of the following statements is true? A) Nations have generally moved toward freer international trade policies over the past few decades.

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