In Moving from a No- Trade to a Free- Trade

question 76

Multiple Choice

In moving from a no- trade to a free- trade situation, a country will

• A)import those goods which are acquired more cheaply through trade than through domestic production.
• B)expect a decrease in the average standard of living, but will see increased profits for firms in the export business.
• C)experience an increase in its average standard of living only if it begins with an absolute advantage in the production of all goods.
• D)be consuming inside its production possibilities boundary.
• E)experience increases in employment in all industries.

---

Definitions:

Data Series

A set of related data points plotted or charted in a graph, often representing a particular category of data.

Column Chart

A graphical representation of data where each category is displayed as a column whose height varies according to its value.

Linked Object

An object that is connected to, and references data from, another source, allowing for automatic updates.

Source File

The original file from which data is derived, often containing code in programming or markup languages before being compiled or processed.