When a Country Abandons a No-Trade Policy,adopts a Free-Trade Policy,and

question 37

Multiple Choice

When a country abandons a no-trade policy,adopts a free-trade policy,and becomes an exporter of a particular good,

• A)consumer surplus increases and total surplus increases in the market for that good.
• B)consumer surplus increases and total surplus decreases in the market for that good.
• C)consumer surplus decreases and total surplus increases in the market for that good.
• D)consumer surplus decreases and total surplus decreases in the market for that good.

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Definitions:

ADR

Alternative Dispute Resolution; methods for resolving disputes outside of the courtroom, including arbitration and mediation.

Legal Disputes

Disagreements or conflicts that are subject to resolution through the legal system, including courts or arbitration.

Peremptory Challenges

The right in jury selection for the attorneys to reject a certain number of potential jurors without stating a reason.

Quasi In Rem

A legal term referring to a court's power over a property or status of an out-of-state defendant's property within its jurisdiction.