In a Two-Product, Two-Country World, International Trade Can Lead to Increases

question 29

Multiple Choice

In a two-product, two-country world, international trade can lead to increases in

• A) consumer welfare only if output of both products is increased.
• B) output of both products and consumer welfare in both countries.
• C) total production of both products but not consumer welfare in both countries.
• D) consumer welfare in both countries but not total production of both products.
• E) prices of both goods in both countries.

---

Definitions:

Cash Bonuses

Monetary awards given to employees as recognition for their performance, efforts, or achievements.

Temporary Employees

Individuals hired to work for a specific, limited period of time, often to fulfill seasonal needs, complete specific projects, or cover for regular employees who are temporarily unavailable.

Skill Based Pay

A compensation system where employees are paid based on the skills, knowledge, and abilities they apply in their work.

Organization's Performance

The overall effectiveness and achievement of a company's objectives, often evaluated through financial, operational, and strategic metrics.