When a Country Opens Up to Trade in a Good

question 200

Multiple Choice

When a country opens up to trade in a good for which it has a comparative advantage,and the country begins to export the good,we can conclude that

• A)​the domestic price will fall after trade opens up.
• B)​both buyers and sellers in that country will be better off as a consequence of opening up the market to international trade.
• C)​the total surplus for this good will increase as a result of opening up the market to international trade.
• D)​opening the market to international trade will create a deadweight loss.

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Definitions:

Longitudinal

refers to research or observational studies that follow the same subjects over a period of time, noting changes and developments.

Sequential Designs

A research method in which participants are studied or tested over a period of time at different stages or points.

Beneficence

The ethical principle that emphasizes acting in ways that promote the well-being of others.

Ethical Principle

A fundamental guideline of ideal conduct that influences moral decision making.