a. the United States should produce more pork than what itrequires and export so

ID: 1228970 • Letter: A

Question

a. the United States should produce more pork than what itrequires and export some of it to Mexico.

b. the United States should produce a moderate quantity of porkand import the remainder of what it requires from Mexico.

c. the United States should refrain altogether from producingpork and import all of what it requires from Mexico.

d. Mexico has nothing to gain from importing United Statespork.

a. foreign competitors that could produce quality textile goodsat low cost.

b. lower prices of goods that are substitutes for clothing.

c. a decrease in Americans’ demand for clothing, due toincreased incomes and the fact that clothing is an inferiorgood.

d. the fact that the minimum wage in the U.S. has failed to keeppace with the cost of living.

a. People face tradeoffs.

b. Trade can make everyone better off.

c. Governments can sometimes improve market outcomes.

d. Prices rise when the government prints too much money.

1.B 2.A 3.A

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