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In 2021, an editorial on bloomberg.com criticized President Biden's expansion of the federal government's Buy American policy. The editorial argued that such barriers to free
In 2021, an editorial on bloomberg.com criticized President Biden's expansion of the federal government's Buy American policy. The editorial argued that such barriers to free trade "are a proven failure when it comes to promoting good jobs and raising living standards. Other policieslong dashespecially investing in skills, mobility, innovation and infrastructurelong dashwould be vastly more effective." Source: Editorial Board, "The New 'Buy American' Is Bad News for Americans," bloomberg.com, January 29, 2021. a. How did the Trump and Biden administrations expect that interfering with trade would promote good jobs and raise living standards? A. Domestic firms and their workers would benefit from the limited competition from foreign firms. B. Any costs associated with these barriers would only affect foreign producers and consumers. C. U.S. consumers would pay less for domestically produced goods and thus purchase more of these goods. D. U.S. consumers would pay less for imported goods, increasing worker standard of living
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