Which of the Following Statements Is(are) FALSE

question 6

Multiple Choice

Which of the following statements is(are) FALSE?
I.Trade creation is always bad for countries.
II.Trade diversion is always good for countries.
III.Regional trade agreements never cause welfare losses.

• A)I
• B)II
• C)III
• D)I, II, and III

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Definitions:

Posterior Probability

The revised probability of an event occurring after taking into consideration new information.

Prior Probability

The probability of an event before new data or information is taken into account.

Conformation

The spatial arrangement of atoms in a molecule that can be altered by rotation around single bonds without breaking chemical bonds.

Hexadiene

An organic compound with the formula C6H10, which contains two double bonds and is used as a monomer in polymer synthesis.