Goolsbee: Isolationist Thinking Makes You Poor, Not Rich

Goolsbee: Isolationist Thinking Makes You Poor, Not Rich

Assessment

Interactive Video

Business

University

Hard

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The transcript discusses the implications of a potential border tax under the Trump administration, highlighting concerns about protectionism and its economic impact. It examines China's strategic moves in Asia following the potential abandonment of the TPP and outlines expectations for Trump's first 100 days, focusing on economic policies like tax reform and trade agreements. The discussion also touches on the potential benefits of renegotiating NAFTA and TPP, particularly in areas like intellectual property.

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7 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of tax is the proposed border tax compared to?

Income Tax

Value Added Tax (VAT)

Sales Tax

Property Tax

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a potential consequence of adopting mercantilism and protectionism?

Increased wealth

Economic growth

Economic isolation

Improved international relations

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What might happen if the US withdraws from the TPP?

The TPP will continue without the US

The US will form a new trade agreement with Europe

China may take the lead in Asian trade agreements

The US will dominate Asian trade

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one of the major goals for Trump's first 100 days?

Cut taxes and reform tax policies

Achieve 4% annual growth

Create 25 million new jobs

Increase military spending

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a potential risk if protectionist trade items are prioritized?

Economic growth

A bumpy ride for investors

Increased foreign investment

Improved trade relations

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What was the TPP intended to do in relation to NAFTA?

Replace NAFTA entirely

Modernize and supersede parts of NAFTA

Exclude Mexico and Canada

Focus solely on intellectual property

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a potential benefit of renegotiating NAFTA?

Eliminating trade with Canada

Improving intellectual property rights

Increasing tariffs on Mexican goods

Reducing trade with Asia