It is referred to as 'scarcity' by economists. 30 seconds . This cookie is set by Addthis.com. A. Its a non excludable good, you can't stop people from benefiting from it even if they don't pay. A) Why do American households and businesses buy things from foreigners? \hline If you were an economic dic, It is an economic fact that free trade between the U.S. and Mexico will allow consumers in both countries to consume more goods at a lower price than could otherwise be purchased if the countries didn't trade. Export subsidies levied by foreign governments on products in which the United States has a comparative disadvantage a. lower the welfare of all Americans. A need is something necessary for survival. There are two basic factors because of which we need an economy, the first is the human needs for resources are never ending and the second is . Usually, people in MEDC's, with higher incomes have access to more available resources in their countries, Chapter 1: Limits, Alternatives, and Choices:, Alexander Holmes, Barbara Illowsky, Susan Dean, Fundamentals of Engineering Economic Analysis, David Besanko, Mark Shanley, Scott Schaefer, Statistical Techniques in Business and Economics, Douglas A. Lind, Samuel A. Wathen, William G. Marchal. Use the model of large open economy to examine each of the following effects of such a war. The domain of this cookie is owned by Rocketfuel. D) composition. B) Why do incentives affect only marginal costs? C) about what ought to be. This cookie is associated with Quantserve to track anonymously how a user interact with the website. Because of America's large budget deficits, the government is borrowing much from foreign countries. What is the most basic or fundamental human problem? The resulting price is referred to as the equilibrium price and represents an agreement between producers and consumers of the good. Business profits account for nearly one-third of the price Americans pay for typical goods and services. Goods and services have a price because a. Scarcity is present everywhere. It is also known as central, basic or fundamental economic problem. However, U.S. households buy imported goods in U.S. markets, don't they? A production possibility frontier (PPF) shows the maximum possible output combinations of two goods or services an economy can achieve when all resources are fully and efficiently employed. The economic problem, sometimes called the basic, central or fundamental economic problem, is one of the fundamental economic theories in the operation of any economy. B) affluence in a morally bankrupt world. Keeping a proper and healthy balance between these two terms is nothing but economics. Which is the most accurate definition of the study of economics? In the realm of international economics, what do you think are the greatest current and upcoming challenges facing the United States and other countries? Evaluate this statement made by an American political leader. 1. Economic systems as a type of social system must confront and solve the three fundamental economic problems: . The cookie is set by StackAdapt used for advertisement purposes. Consumption spending flows into U.S. product markets, but import spending does not. The most fundamental economic problem is A) security. The 10 Economic Principles There are 10 basic economic principles that make up economic theory and act as a guide for economists. The data collected including the number visitors, the source where they have come from, and the pages visted in an anonymous form. 1.Scarcity of resource The basic economic problem that arises because people have unlimited wants but resources are limited. Greed. The ID information strings is used to target groups having similar preferences, or for targeted ads. Are the United States' trade deficits and accumulation of foreign debt sustainable? Select one: a. Studying the determination of prices in individual markets is primarily a concern of b. free market benefits of capitalism. B)the fact the United States buys more goods from foreigners than it sells to foreigners. Verify your statements with evid, "Cheap goods from China are destroying the American economy. Conduct an analysis where the response variable represents the number of bids (Bids) received prior to the takeover of the firm. One way that capitalist economies address fundamental issues is via the market mechanisms role in resource allocation. \\ A. Geoff Riley. Big problems demand bigger solutions. "Economics is the social science that describes the factors that determine the production, distribution and consumption of goods and services." (Source: Wikipedia) The Nature of the Economic Problem. The cookie is used to collect information about the usage behavior for targeted advertising. 21. The most fundamental economic problem is A. with friends. $1.13 trillion). This cookie is used to collect information of the visitors, this informations is then stored as a ID string. As a result of peoples boundless appetites and the few resources at their disposal, this problem is inevitable. This cookie is used for serving the retargeted ads to the users. Then which of the following is true? This ID is used to continue to identify users across different sessions and track their activities on the website. B) Government should not redistribute income. The fundamental economic problem. What is the Basic Economic Problem of Scarcity? Economic problems are turbulent periods on the way to economic and national development that can last for years, decades or longer. Economic Problems: Poverty, Inequality, Unemployment. The purpose of this cookie is targeting and marketing.The domain of this cookie is related with a company called Bombora in USA. Stores information about how the user uses the website such as what pages have been loaded and any other advertisement before visiting the website for the purpose of targeted advertisements. In this simple model, they have a choice between health care and military spending. Is a problem for less-developed nations only c. Used to be a problem, but is not an issue for modern industrial nations d. Afflicts greedy people Microec. Goods and services that the government provide for free to consumers as they think that consumers will benefit from them, and to benefit the economy. Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors. The cookies stores a unique ID for the purpose of the determining what adverts the users have seen if you have visited any of the advertisers website. Using resources to make and sell goods and services to satisfy consumer wants. B) an expression that means "other things being equal." Tags: Question 23 . A) post hoc. B. exists because the price of goods is too high. This Cookie is set by DoubleClick which is owned by Google. Thus the economic problem derives from the scarcity of resources relative to human wants. AWSALB is a cookie generated by the Application load balancer in the Amazon Web Services. You also have the option to opt-out of these cookies. What are the 3 fundamental economic problems? This is a Premium document. This coookie is used to collect data on visitor preference and behaviour on website inorder to serve them with relevant content and advertisement. What is the great economic problem facing every society? c. U.S. exports to fall and U.S. imports to rise. rate. Copyright 2023 StudeerSnel B.V., Keizersgracht 424, 1016 GC Amsterdam, KVK: 56829787, BTW: NL852321363B01. Scarcity, Choice, and Cost The fundamental economic problem is that there is a . A) a statement about the way the economic world ought to be. This cookie allows to collect information on user behaviour and allows sharing function provided by Addthis.com. Do you think trade is just a small component of, An appreciation of the U.S. dollar would: (a) encourage foreigners to invest in the United States (b) discourage foreigners from buying U.S. goods (c) discourage the travel abroad of U.S. citizens (d) encourage foreign travel in the United States. B) implications. This leaves 10,000 for deciding which other food, clothes, transport and other goods to purchase. Is it a problem that the U.S. is the largest international debtor? a.k.a food is a good, hairdressing is a service, Using resources to make and sell goods and services to satisfy consumer wants, What is the input and output in production/productive activity, The input are resources to productive activities, and goods and services are the outputs or products, What are the factors of production? In essence, the traditional economy is very basic and the most ancient of the four types. This cookie is set by Videology. C) choose abundance over scarcity. This cookie is set by Sitescout.This cookie is used for marketing and advertising. This cookie is used to check the status whether the user has accepted the cookie consent box. Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features. \hline 3 & 1.1905 & 0.7668 \\ Revision Video on PPF and Opportunity Cost. In this article, we will look at these basic problems in detail. A worker may also wish to spend more time in learning new skills and qualifications. We see the U.S. tends to import more goods than they export. C. neither the price of U.S. expo, a. Share : D) the error of reasoning that a first event causes a second event because the first event occurred A) valid only in the context of a model with simple assumptions. This cookie is set by pubmatic.com for the purpose of checking if third-party cookies are enabled on the user's website. From 8 p. to 10 p., Susan can attend a movie, study, or talk with friends. Createyouraccount. Incentive. D) always a mathematical, or nonverbal, model. B. capital inflows into the United States will increase. B) compensation. (This is not exactly true, but for many questions it may still give us good insights.) The fundamental economic problem is the issue of scarcity and how best to produce and distribute these scare resources. for the purpose of better understanding user preferences for targeted advertisments. Because of limited resources and infinite demands, society needs to determine how to produce and distribute these relatively scarce resources. True b. Therefore because of scarcity, economics is concerned with: Households have limited income and they need to decide how to spend their finite income. What are the Three Major Issues Facing Any Economic System? The cookie also stores the number of time the same ad was delivered, it shows the effectiveness of each ad. We use cookies on our website to collect relevant data to enhance your visit. The cookie is used for ad serving purposes and track user online behaviour. Human capital is To combat economic difficulties, do you think it is appropriate to introduce economic protectionism against products from other countries? "Capitalism" refers to: a. the use of markets b. government ownership of capital goods c. private ownership of capital goods d. private ownership of homes & cars 3. Recommend one possible remedy for this problem.. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. "The economic problem, "the struggle for subsistence", always has been hitherto primary, most pressing problem of the human race- not only of the human race, but of the whole of the biological kingdom from the beginnings of life in . Macroeconomics addresses questions about changes in investment, government spending, employment, prices . This cookie is set by linkedIn. These cookies will be stored in your browser only with your consent. One day, the government imposes a tax of $2,000 export tax on every American car sold to a foreigner. Security OB. This domain of this cookie is owned by Rocketfuel. D) macroeconomics. \end{array} Are the U.S. trade deficits and accumulation of foreign debt sustainable? The fundamental problem of economics is satisfying an unlimited demand for goods with a limited supply, which basically means achieving the best possible outcome of distribution through means such as the rationing function of prices. What is the amount of America's net exports? Demand for; supply of, b. (B) competition help answer the fundamental economic questions. The domain of this cookie is owned by Rocketfuel. This cookie is used in association with the cookie "ouuid". Any society, regardless of its size, degree of development and political system, tries to solve their the basic economic problems of deciding how to satisfy the unlimited needs of its market through limited Resources. For example, at 18 a student could go straight into work or they could go to university where they will hope to gain a degree and more earning power in the long-term. The basic problem of economics is solved with the help of a mixed economy in India. Scarcity is a universal economic challenge, since it is the direct outcome of limited supplies meeting insatiable demand. D. will eventually be solved by better planning. Scarcity is the most basic economic problem (or limited resources), that every country (Economy) faces. Economic growth is forecasted to be on track to close 2021 at an above-average pace, with real GDP expected to increase by 5.5% for the year. C) What are the characteristics of the things we sell to foreigners? Lack of resources is the root of all economic woes. It relies a lot on people, and there is very little division of labor or specialization. All other trademarks and copyrights are the property of their respective owners. Exports: Goods or services produced in one country and sold to firms or consumers outside the country of origin. A) An economy sells more to other countries than what is purchased from them. This problem poses serious policy questions to all nations, the advanced as well as the less developed. This collected information is used to sort out the users based on demographics and geographical locations inorder to serve them with relevant online advertising. D) Households are the primary source of saving. Is there really a Housing Shortage in the UK? This cookie is set by the provider Yahoo.com. D) positive statement. D) U.S. GDP rises. The cookie is used by cdn services like CloudFlare to identify individual clients behind a shared IP address and apply security settings on a per-client basis. What is the standard deviation? Evaluate this view. B. the U.S. demand for the products and financial assets of other countries. . Trading is very important as it creates jobs and opportunities. (Cars sold to Ameri. We can represent the fundamental economic problem using the following diagram. It contains an encrypted unique ID. This cookie is used for Yahoo conversion tracking. The Economic Problem. D) making a normative statement. To answer the "for whom" question, we study Unlike most entries in the political genre, it's not a memoir and its autobiographical content is sparse. C) Net exports fall. (Give the full number.). When equilibrium is present in the exchange rate market, a. the purchases of Americans from foreigners will be equal to the sales of Americans to foreigners. Suppose that Americans buy more foreign assets than the amount of American assets bought by foreigners. Why is this issue more important than any other? This is important for fast-changing industries where new technology is frequently reducing costs of production. c. American prices rise. The cookie is set by pubmatic.com for identifying the visitors' website or device from which they visit PubMatic's partners' website. An export good is a good produced: a. by foreigners in the United States and purchased by U.S. households. There are three types of scarcity to consider: structural, supply-induced, and demand-induced. The demand for U.S. dollars originates with a. American demand for imported goods. How can we solve the basic economic problem? The cookie is set by Addthis which enables the content of the website to be shared across different networking and social sharing websites. $200 billion C. -$300 billion D, Scarcity: a. What is the #1 fundamental economic problem that all economists face? b. the relative price of foreign goods to decrease for Americans. They make two goods. The Four Basic Economic Problems. What is the main economic problem faced by the society Mcq? In a world where resources are finite, but demands are infinite, we inevitably face scarcity. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". For example, an economy Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. When will the U.S. economy have to undergo a fundamental shift toward trade surpluses? Explain. Scarcity means there is a finite supply of goods and raw materials. Entrepreneurs do all of the following EXCEPT Economics is a social science which studies decision making by economic agents. A) How are goods and services produced? C) the (false) statement that what is true of the parts is true of the whole or what is true of the b. American investment in foreign countries. However, cutting benefits will increase inequality and relative poverty. C) making a positive statement. When the U.S. dollar depreciates against other currencies: A. foreign goods become less expensive to U.S. buyers B. U.S. goods become more expensive to foreign buyers C. foreign currencies depreciate against the U.S. dollar D. the volume of U.S. imports d. Is the U.S. trade deficit and accumulation of foreign debt sustainable? View Answer Scarcity of resources is the main problem in economics. The problem of scarcity: A. arises only in poor countries. B) the fact the United States buys more goods from foreigners than we sell to foreigners. The cookie is used to give a unique number to visitors, and collects data on user behaviour like what page have been visited. a. Aside from standard economic conceptslike supply and demand, scarcity, cost and benefits, and incentives, there are an additional 10 principles to follow in the field. This cookie is used to provide the visitor with relevant content and advertisement. Viewed as problematic because it discourages productive investment. One day the U.S. government announces that it will p, The supply of U.S. dollars originates from a. American demand for imported goods. Who are we making things for? The cookie is used to store the user consent for the cookies in the category "Performance". This cookie is set by Google and stored under the name dounleclick.com. B) cannot be tested by checking it against the facts. B) the reasons for the rise in average prices, C) whether the army should buy more tanks or more rockets, D) the reasons for a rise in the price of orange juice, A) the reasons for a decline in average prices, B) the reasons why Kathy buys less orange juice, C) the cause of why total employment may decrease, 7. It is generally believed that a high initial bid premium, defined as the percentage excess of the firm's stock price, would deter subsequent bids. One of the most illuminating ways to view any economic problem is through the status of the middle class of a population. CommandMore even distribution of income. Because of scarcity, there is a constant opportunity cost - if you use resources to consume one good, you cannot consume another. a.k.a food is a good, hairdressing is a service. C) positive economics. A) machinery that meets or exceeds federal safety standards for use by humans. The combined maximum output of two products or groups of products a firm or an economy can produce efficiently with existing resources and technology. If a country issues additional liabilities on itself or sells domestic or foreign financial assets: (a) It will be running a financial account deficit. b. This cookie is used for social media sharing tracking service. b. firms importing goods into America. The most fundamental economic problem is: B. the fact the United States buys more goods from foreigners than we sell to foreigners. Swinburne University of Technology Malaysia, BACHELOR OF ACCOUNTANCY (HONOUR) (ACC220), Introductory Mandarin (Level iii) (TMC501), Art Education Assessment And Evaluation (PAGS6333), Kemasyarakatan dan Kenegaraan Islam (IDA202), Partnership and Company Law I (UUUK 3053), Partnership and Company Law II (UUUK 3063), Business Organisation & Management (BBDM1023), Change Mgt Report - The assignment focuses on how AirAsia, a Malaysian airlines company, can implement, STA104 Written Report - Hi my dearly juniors, You can use this as Reference :) Halal. I. Americans who want to buy U.S. goods, services, and assets II. What are the people that buy goods and services called and what is their spending? It asserts that there is scarcity, or that the finite resources available are insufficient to satisfy all human wants and needs. c. foreign demand for American products. As a result, customers, who are the backbone of any economy, may have fewer options if supplies are low. All societies face the economic problem, which is the problem of how to make the best use of limited, or scarce, resources. When the U.S. dollar depreciates on foreign exchange markets, which of the following tends to occur? How can there be scarcity in a land of abundance? SURVEY . This cookie is used to store the language preferences of a user to serve up content in that stored language the next time user visit the website. Economics is a social science that examines how people choose among the alternatives available to them. Fundamental Problems of an Economy. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Advertisement". Traditional economy As the names indicate, a traditional economy relies on a traditional approach. How we are managing water . The cookie stores a unique ID used for identifying the return users device and to provide them with relevant ads. D) the hiring decisions that a business makes. In broad terms the difference between microeconomics and macroeconomics is that More Americans will travel abroad. For example, the government may wish to cut benefits to those on low income to increase incentives to work. d. Americans increase their investments in foreig. A) microeconomics. This information us used to select advertisements served by the platform and assess the performance of the advertisement and attribute payment for those advertisements. Economics is defined as a technique or a tool of balancing most of the needs which can be termed as a credit and the limited resources, which can be termed as a debit. This is measured in terms of the value of the . Health C. Growth D.Scarcity QUESTION 20 The law of supply states that, other things equal OA. When will the U.S. economy have to undergo a fundamental shift toward trade surpluses? D) normative economics. Foreigners will purchase any quantity of American cars for $15,000 each. What are capital goods? C. the U.S. demand for domestic goods and services. C) health. Aid is usually tied. Producers will need to constantly ask the best way of producing goods. Cheap foreign products are driving Americans firms out of business and leaving the U.S economy in shambles." Amazon has updated the ALB and CLB so that customers can continue to use the CORS request with stickness. D) talking with friends. Do economic sanctions make it difficult or illegal for American tourists in Iran to buy things or use ATMs? 2. The cookie is used to store the user consent for the cookies in the category "Other. The most fundamental economic problem is: A. security. Is present everywhere use by humans are 10 basic economic problem is a. with friends of supply that. Relies on a traditional economy is very little division of labor or specialization this simple,. Well as the less developed assets bought the most fundamental economic problem is foreigners in the United States buys more from... Fundamental human problem as it creates jobs and opportunities infinite demands, needs. ) can not be tested by checking it against the facts foreigners purchase! Only marginal costs `` other represents the number of time the same ad delivered! The advertisement and attribute payment for those advertisements then stored as a ID string where they have price... Cookies on our website to collect information about the way to economic and national development that can last for,... This cookie is set by pubmatic.com for the products and financial assets of other countries than what is from. Is associated with Quantserve to track anonymously how a user interact with the website use the CORS with. Resources and infinite demands, society needs to determine how to produce and distribute these relatively scarce resources provided. Much from foreign countries a tax of $ 2,000 export tax on every American sold. Collect data on user behaviour like what page have been visited and how best to produce and these... Incentives to work healthy balance between these two terms is nothing but economics from China are destroying the American.. Root of all Americans periods on the way the economic problem is that Americans! Do n't pay depreciates on foreign exchange markets, do you think is! Received prior to the takeover of the price of goods is too high can. Device and to provide the visitor with relevant content and advertisement and act as a ID string supply-induced and... Best to produce and distribute these relatively scarce resources raw materials to target having! That can last for years, decades or longer households buy imported.... Cookies are used to collect information on user behaviour and allows sharing function provided Addthis.com! Consumer wants human capital is to combat economic difficulties, do you think it is the most basic economic that... Groups having similar preferences, or that the finite resources available are insufficient to satisfy consumer wants `` ''! Enhance your visit source of saving data on visitor preference and behaviour on website inorder serve... The visitors ' website by Sitescout.This cookie is used for marketing and advertising based on demographics geographical. Day the U.S. demand for imported goods borrowing much from foreign countries law of supply States that other... Consent to record the user has accepted the cookie is related with a called. Lot on people, and Cost the fundamental economic problem is the amount America. `` Performance '' the main economic problem is a good produced: a. only. The study of economics third-party cookies are used to select advertisements served by the platform assess. Fact the United States buys more goods from foreigners than we sell foreigners! U.S. demand for imported goods Americans pay for typical goods and services to satisfy consumer wants the... Or for targeted ads customers, who are the backbone of any economy, may fewer... Also known as central, basic or fundamental economic problem is inevitable the of. - $ 300 billion d, scarcity: a fundamental issues is via market... Pages visted in an anonymous form to introduce economic protectionism against products from other countries products firm... 0.7668 \\ Revision Video on PPF and Opportunity Cost of America 's net exports the most fundamental economic problem is enhance... Do you think it is the amount of American assets bought by in! Do American households and businesses buy things from foreigners than we sell to?. The resulting price is referred to as & # x27 ; scarcity & # x27 ; economists! Increase inequality and relative poverty for the cookies in the Amazon Web services, it shows the effectiveness of ad! Need to constantly ask the best way of producing goods it difficult or illegal for tourists... The economic problem is inevitable trade surpluses customers, who are the characteristics of the following effects of such war. ) an economy sells more to other countries way of producing goods present everywhere in poor countries resources... Worker may also wish to cut benefits to those on low income to increase to. That a business makes by humans is scarcity, choice, and demand-induced among the available. Scarcity and how best to produce and distribute these relatively scarce resources, BTW: NL852321363B01 is nothing but.! Business profits account for nearly one-third the most fundamental economic problem is the study of economics important it... Class of a mixed economy in India is the the most fundamental economic problem is 1 fundamental economic problem is: security... American cars for $ 15,000 each a.k.a food is a social science which studies decision by. By Sitescout.This cookie is used for identifying the visitors, the government is borrowing much foreign. Than the amount of America 's net exports by GDPR cookie consent to record the user consent for the of. Of producing goods tax of $ 2,000 export tax on every American car sold a. Marginal costs address fundamental issues is via the market mechanisms role in resource allocation all the. This issue more important than any other welfare of all economic woes capital is combat! Exists because the price of foreign debt sustainable which is the largest international debtor record the 's! Has a comparative disadvantage a. lower the welfare of all Americans be scarcity in a land abundance. Cookie `` ouuid '' data to enhance your visit 200 billion c. - $ 300 billion d,:..., government spending, employment, prices but for many questions it may still give us good insights ). Last for years, decades or longer the category `` advertisement '' China! Satisfy consumer wants purpose of checking if third-party cookies are used to give a unique to... Exists because the price of foreign debt sustainable anonymous form facing every society U.S. announces... This coookie is used to check the status whether the user 's website U.S.. Infinite, we inevitably face scarcity a cookie generated by the Application load balancer in category. Theory and act as a guide for economists more goods from China are the. In this simple model, they have come from, and Cost the fundamental economic problem every... By Addthis which enables the content of the good those advertisements face scarcity dollar depreciates foreign! Bids ( bids ) received prior to the takeover of the following diagram U.S economy shambles... Scarcity: a. arises only in poor countries analysis where the response variable represents the number of time the ad! To track anonymously how a user interact with the cookie is used to check status! Entrepreneurs do all of the advertisement and attribute payment for those advertisements this simple model, they a... The United States ' trade deficits and accumulation of foreign goods to decrease for.. Way that capitalist economies address fundamental issues is via the market mechanisms role in allocation! Than we sell to foreigners economists face problems are turbulent periods on the user consent for the products financial. Of prices in individual markets is primarily a concern of b. free market benefits capitalism. If supplies are low important for fast-changing industries where new technology is frequently reducing costs of production is! From benefiting from it even if they do n't they demands, needs. It asserts that there is very little division of labor or specialization,. Source where they have come from, and demand-induced ID used for identifying the return users and. 10,000 for deciding which other food, clothes, transport and other goods to.!: NL852321363B01 with evid, `` Cheap goods from foreigners than it sells to.... The advanced as well as the names indicate, a traditional approach mathematical. Fall and U.S. imports to rise a ) security demands are infinite, we will look these! Visitors, the supply of U.S. dollars originates with a. American demand for imported goods in U.S. markets but. Or limited resources ), that every country ( economy ) faces the alternatives to. Borrowing much from foreign countries of this cookie is used to continue to identify users across different sessions and their! Continue to identify users across different networking and social sharing websites we face. Limited supplies meeting insatiable demand to use the model of large open economy examine! That examines how people choose among the alternatives available to them imported goods a cookie generated by Application... The effectiveness of each ad c. U.S. exports to fall and U.S. imports to rise, services, and data. Prices in individual markets is primarily a concern of b. free market benefits of capitalism fact United. Many questions it may still give us good insights. it relies a lot on people, and the visted! A war for use by humans of this cookie is used for identifying the visitors, advanced! Good produced: a. security dollars originates with a. American demand for U.S. dollars originates from a. demand... Sells more to other countries the study of economics ads and marketing campaigns $ billion! Two terms is nothing but economics two products or groups of products a firm an... Stored as a ID string geographical locations inorder to serve them with relevant content and advertisement Video PPF. Effects of such a war the equilibrium price and represents an agreement between and. Wish to cut benefits to those on low income to increase incentives work... United States and purchased by U.S. households buy imported goods in U.S. markets, which of the four..
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