Suppose Country X Currently Produces Widgets.Then It

question 76

Multiple Choice

Suppose country X currently produces widgets.Then it
Establishes a preferential trading agreement with country Y.
Following the formation of the PTA, country X no longer produces
Widgets and imports widgets from country Y.What has occurred?

• A)There is trade diversion and a welfare gain for both country X and country Y.
• B)There is trade diversion, a welfare gain for country Y, and a welfare loss for country X.
• C)There is trade creation and a welfare gain for both country X and country Y.
• D)There is trade creation, a welfare gain for country Y, and a welfare loss for country X.

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Definitions:

Learning and Development

A strategic process aimed at enhancing employee skills, knowledge, and competency, contributing to organizational growth.

Business Impact Data

Information that helps in measuring the effect of an activity, process, or decision on the success and profitability of a business.

Cost-effectiveness Evaluation

This evaluation assesses the economic efficiency of different interventions or programs by comparing their costs to their outcomes or effects.

Employee Turnover

The rate at which employees leave a company and are replaced by new employees.