Microeconomics Study Set 20
Quiz 9: Comparative Advantage and the Gains From International Trade
Trade Between Countries That Is Without Restrictions Is Called
Trade between countries that is without restrictions is called A) unobstructed commerce. B) unabated trade. C) free trade. D) unencumbered trade.
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Refer to Figure 9-1.Under autarky,the consumer surplus is A) $195. B) $260. C) $300. D) $555.
Refer to Figure 9-1.Under autarky,the producer surplus is A) $40 B) $105 C) $195 D) $285
Refer to Figure 9-1.Under autarky,the deadweight loss is A) $0. B) $15. C) $30. D) $40.
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