When a Certain Nation Abandoned a Policy of Prohibiting International

question 234

Multiple Choice

When a certain nation abandoned a policy of prohibiting international trade in automobiles in favor of a free-tree policy,the result was that the country began to import automobiles.The change in policy improved the well-being of that nation in the sense that

• A)both producers of automobiles and consumers of automobiles in that nation became better off as a result.
• B)the gains to automobile producers in that nation exceeded the losses of the automobile consumers in that nation.
• C)the gains to automobile consumers in that nation exceeded the losses of the automobile producers in that nation.
• D)even though total surplus in that nation decreased,it was still true that consumer surplus and producer surplus increased.

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Definitions:

Hierarchy of Aims

A structured arrangement of objectives and goals of an organization or project, ordered by their priority or level of importance.

Means-ends Fashion

An approach to problem-solving that starts with a desired outcome and works backward to find the methods to achieve it.

Good Planning

The process of setting objectives, determining strategies, and outlining tasks and schedules to accomplish the goals efficiently and effectively.

Scenario Planning

A strategic planning method used to make flexible long-term plans based on the systematic examination of future potential events and their impacts.