-Refer to Figure 7

question 10

Multiple Choice

-Refer to Figure 7.3.The total utility from consuming 2 slices of pie is:

• A)12.
• B)7.
• C)15.
• D)4.

---

Definitions:

Trans-Pacific Partnership

A trade agreement among multiple Pacific Rim countries aimed at deepening economic ties, reducing tariffs, and fostering trade to boost growth.

Infant Industry Argument

A protective economic theory suggesting that emerging domestic industries should be shielded from foreign competition until they become competitive.

Tariff

A tax imposed by a government on imported goods to protect domestic industries or raise revenue.

Domestic Market

The market within a country where goods and services are traded domestically.