Every year, the Gallup poll asks a sample of people in the United States whether they believe

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Every year, the Gallup poll asks a sample of people in the United States whether they believe foreign trade provides "an opportunity for economic growth through increased U.S. exports," or whether they believe foreign trade represents "a threat to the economy from foreign imports." The table shows the responses for two years:
View of Foreign Trade State of the U.S. Economy Favorable to Year Foreign Trade Unfavorable 41% 2008 52% Deep economic r

a. Do you believe that foreign trade helps or hurts the economy? (Be sure to define what you mean by "helps" or "hurts.")
b. Why might the general public's opinion of foreign trade be substantially different during an economic recession, when production and employment are falling, than during an economic expansion, when production and employment are increasing?
c. Typically polls show that people in the United States under 30 years of age have a more favorable opinion of foreign trade than do people age 65 and over. Why might younger people have a more favorable view of foreign trade than older people?

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Economics

ISBN: 978-0134106243

6th edition

Authors: R. Glenn Hubbard

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