The Figures Given Below Illustrate a Situation of a Trade

question 14

Multiple Choice

The figures given below illustrate a situation of a trade embargo. In Figure (a) D_d and S_d are the domestic demand and supply curves of the embargoing countries. The import price is P₀ and the target country imports the amount Q₀ before the embargo is imposed. As a result of this embargo, the exporting countries not participating in the embargo gain area _____.

• A)a
• B)b
• C)c
• D)(b + c)

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Definitions:

The Ends Justify The Means

A consequentialist belief that a morally good outcome may justify methods that are considered morally questionable or reprehensible.

Retribution

The concept of punishment inflicted on someone as vengeance for a wrong or criminal act, focusing on making the punishment fit the crime.

Civil Liberties

Individual rights protected by law from unjust governmental or other interference.

Waldron

A scholar or theorist known for significant contributions to legal and political philosophy, possibly referencing Jeremy Waldron's work on law, rights, and justice.