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:

Administrator of the Estate

An individual appointed by a court to manage and distribute the assets of a deceased person's estate when there is no will.

Revocation

The official cancellation or withdrawal of a decree, decision, or promise.

Executor

An individual appointed by a testator to carry out the terms of their will.

Intestate

Referring to dying without a legal will, resulting in the distribution of the estate according to state laws.