What is one potential negative consequence associated with free trade?
(1 point)
Responses
Import and export taxes are high under free trade.
Import and export taxes are high under free trade.
Buyers and sellers can no longer make price decisions.
Buyers and sellers can no longer make price decisions.
Countries that practice free trade have high unemployment.
Countries that practice free trade have high unemployment.
People in certain industries earn lower wages or sell fewer products.
People in certain industries earn lower wages or sell fewer products.
Which policy would be in the best interests of consumers?
(1 point)
Responses
increasing tariffs
increasing tariffs
decreasing minimum wage
decreasing minimum wage
breaking up large companies to increase competition
breaking up large companies to increase competition
changing loan interest rates to encourage saving rather than borrowing
breaking up large companies to increase competition
Which statement best explains why division of labor increases labor productivity?
(1 point)
Responses
Employers can pay workers more money when they get more done.
Employers can pay workers more money when they get more done.
Employers must fire some of their workers so fewer people have to get the work done.
Employers must fire some of their workers so fewer people have to get the work done.
Workers learn to do their jobs more quickly when they repeat the same tasks.
Workers learn to do their jobs more quickly when they repeat the same tasks.
Workers try to work more quickly because their jobs are more boring.
Workers learn to do their jobs more quickly when they repeat the same tasks.
A country has an economic boom and can afford to increase imports from a second country. What is likely to happen in the second country?
(1 point)
Responses
a recession
a recession
an economic boom
an economic boom
a depression
a depression
increased taxes