Trade Theorists Have Proven That the Gains from International Trade

question 11

Multiple Choice

Trade theorists have proven that the gains from international trade

• A) must raise the economic welfare of every country engaged in trade.
• B) must raise the economic welfare of everyone in every country engaged in trade.
• C) must harm owners of "specific" factors of production.
• D) will always help "winners" by an amount exceeding the losses of "losers."
• E) usually outweigh the benefits of protectionist policies.

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Definitions:

Accounting Number Format

A style of formatting numbers in financial documents that aligns currency symbols and decimal points for easy comparison.

Floating Dollar Sign

A currency symbol that is placed immediately before the first digit of a number, used to indicate the currency, without being attached to the digits.

MAX

A function in spreadsheet software that finds the largest value in a set of data.

Highest Value

The largest number or amount in a given set or series of data.