If We Add Together All the Gains from Specialization and Trade

question 143

Multiple Choice

If we add together all the gains from specialization and trade and then subtract all the losses,the net result would be

• A)Zero: the gains and losses would cancel out.
• B)Positive: a net gain for the world and each country.
• C)Negative: a net loss for the world and each country.
• D)Impossible to tell: the net result could be zero,positive,or negative.

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Definitions:

Vagrancy

A condition of homelessness and joblessness, often criminalized, where individuals wander from place to place without a permanent home or lawful employment.

Self-denial

The act of sacrificing one's own desires or needs, often for ethical or religious reasons.

Puritan

A member of a group of English Protestants in the 16th and 17th centuries who sought to purify the Church of England from its "Catholic" practices, maintaining that the Church of England had not been fully reformed and needed to become more Protestant.