When a country that imported a particular good abandons a free-trade policy and adopts a no-trade policy,
a. producer surplus increases and total surplus increases in the market for that good.
b. producer surplus increases and total surplus decreases in the market for that good.
c. producer surplus decreases and total surplus increases in the market for that good.
d. producer surplus decreases and total surplus decreases in the market for that good.
b
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The M1 definition of the money supply includes all of the following EXCEPT
A) savings accounts. B) transaction deposits. C) currency. D) travelers checks.
What does cross elasticity of demand between goods reveal about the nature of relationship between them?
What will be an ideal response?
In the above table, the balance on the current account for Country X is ________ billion dollars
A) -35 B) -75 C) +75 D) -200
Unemployment
a. usually decreases whenever nominal GDP decreases. b. usually increases whenever real GDP decreases. c. usually decreases whenever nominal GDP increases. d. usually increases whenever the price level increases.