Which of the Following Is True

question 63

Multiple Choice

Which of the following is true?
i.Compared to a no-trade situation,in a market with exports,consumer surplus is larger.
ii.Tariffs decrease consumer surplus.
iii.Trade is restricted because protection brings small losses to a large number of people and large gains to a small number of people.

• A) Only i
• B) Only ii
• C) Only iii
• D) i and iii
• E) ii and iii

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Definitions:

False Alternative

A logical fallacy that occurs when only limited alternatives are considered, when in fact more options are available.

Dichotomy

A division or contrast between two things that are or are represented as being opposed or entirely different.

Argument

A series of statements or reasons made to persuade others that an idea or point of view is correct or valid.

True

In accordance with fact or reality, without falsehood or error.