1. We can conclude that international trade is beneficial because, regardless of whether the country imports or exports a good, the overall increase in well-being outweighs the losses associated with trade.
Is this statement true or false?
2. If we know that Canada exports maple syrup, we can conclude that maple syrup consumers in Canada are worse off than they would be in the absence of trade.
Is this statement true or false?
1. We can conclude that international trade is beneficial because, regardless of whether the country imports or exports a good, the overall increase in well-being outweighs the losses associated with trade.
Is this statement true or false?
2. If we know that Canada exports maple syrup, we can conclude that maple syrup consumers in Canada are worse off than they would be in the absence of trade.
Is this statement true or false?
Related textbook solutions
Related questions
1. If we know that Canada exports maple syrup, we can conclude that maple syrup consumers in Canada are worse off than they would be in the absence of trade.
Is the statement true or false?
2. When a country opens up to trade in a good for which it has a comparative advantage, and the country begins to export the good, we can conclude that:
| a. |
The domestic price will fall after trade opens up. |
|
| b. |
The total surplus for this good will increase as a result of opening up the market to international trade. |
|
| c. |
Opening the market to international trade will create a deadweight loss. |
|
| d. |
Both buyers and sellers in that country will be better off as a consequence of opening up the market to international trade. |
