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:

Organizational Pattern

The structured arrangement and presentation of ideas or information in a coherent and logical way.

Functional

Designed to be practical and useful, rather than purely decorative, focusing on what something does or is used for.

Direct

To manage or guide by giving commands or instructions with authority.

Deductive

A logical process in which a conclusion is based on the concordance of multiple premises that are generally assumed to be true.