If a Very Small Country Trades with a Very Large

question 7

Multiple Choice

If a very small country trades with a very large country according to the Ricardian model,then

• A) the small country will suffer a decrease in economic welfare.
• B) the large country will suffer a decrease in economic welfare.
• C) the small country only will enjoy gains from trade.
• D) the large country will enjoy gains from trade.
• E) both countries will enjoy equal gains from trade.

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Definitions:

Candidate-Centered

Describes political campaigns and politics that focus more on the individual candidates, their characteristics, and issues rather than on party affiliation.

Political Campaigns

Organized efforts which seek to influence the decision-making process within a specific group, often related to elections where candidates seek public office.

Elite Democracy

A theory of democracy that limits the citizens' role to choosing among competing leaders, with decisions and policies then made by elected officials and other elites.

Campaigning

The act of working over a period toward a goal, especially in political contexts, where it involves efforts to win votes.