1. Suppose one country produced all things better than another country. Would it be mutually profitable for them to trade with one another? Explain. (Chp. 12) and Comparative Advantage
2. On which group does a nation’s protective tariffs have a greater negative effect: its own citizens, or those in countries that wish to trade with them? (Chp. 12)
3. What is the effect of legislative encouragement or restriction of any one industry on the production of wealth? (Chp. 13)
4. In which industries do protective tariffs result in greater profits? Give examples. (Chp. 14)
5. Is the aim of protection to lessen competition in the labor market or in the goods market? (Chp. 12)
6. What is the effect of protection on prices and on wages? (Chp. 14)
7. How can wages be raised briefly and in a small way by tariffs? (Chp. 14)
8. What determines the general level of wages? (Chp. 14)
9. Would it be unjust to abolish protection all at once? Explain. (Chp. 15)
10. What is the general tendency of free trade?
11. What is the general tendency of protection?
12. From what fact does protection, in spite of its fallacies, draw its greatest strength? (Chp. 16)
13. What has been the effect of labor-saving inventions on the condition of labor? (Chp. 16)
