econ 9 example #39100

6 April 2024

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6 test answers

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question

When a country allows trade and becomes an importer of a good,

answer

domestic producers become worse off, and domestic consumers become better off.

question

Trade enhances the economic well-being of a nation in the sense that

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trade results in an increase in total surplus.

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when a country allows trade and becomes an exporter of a good,

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domestic producers gain and domestic consumers lose.

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When a country that imported a particular good abandons a free-trade policy and adopts a no-trade policy,

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producer surplus increases and total surplus decreases in the market for that good.

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Trade raises the economic well-being of a nation in the sense that

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the gains of the winners exceed the losses of the losers.

question

When a country allows trade and becomes an importer of a good

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the gains of the winners exceed the losses of the losers.