Consider the Following Statements

question 159

Multiple Choice

Consider the following statements:
I. Relative to a no-trade situation, if the United States exported wheat, the U.S. domestic wheat price would rise and domestic production of wheat would expand.
II. Relative to a no-trade situation, international trade causes the prices of all goods to rise.

• A) I is true; II is false.
• B) I is false; II is true.
• C) Both I and II are true.
• D) Both I and II are false.

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Definitions:

Critical Thinkers

Individuals who actively engage in the process of skillful reasoning as a guide to belief or action.

Contradictions

Statements or propositions that directly oppose each other, indicating a discrepancy in reasoning or facts.

Belief System

A set of principles or tenets which together form the basis of a religion, ideology, or personal stance.

Ideological Argument

An argument that is primarily based on a set of beliefs or ideologies rather than empirical evidence or logical reasoning.