Question

An example of an industry that can limit trade and increase prices is:

Question 22 options:

a)

oil.

b)	groceries.

c)

clothing.

d)

sugar.

Under free trade, some jobs will be lost, but increased consumer spending power means there will be more jobs in other industries. However, these new jobs are:

Question 6 options:

a)	not likely to be good jobs.

b)	more difficult to see than the lost jobs.

c)	less real than the lost jobs.

d)	not very patriotic.

Answer 1

22) The correct option is: A) Oil

A limit order is an order to buy or sell a stock at a specific price or better. A buy limit order can only be executed at the limit price or lower, and a sell limit order can only be executed at the limit price or higher. A limit order is not guaranteed to execute.

06) The correct option is: b) more difficult to see than the lost jobs.

For domestic firms to reduce output requires them to reduce variable costs of production, which will include layoffs of workers. This means that the adjustment to the new free trade equilibrium will cause unemployment and its associated costs.