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:

Behavioral Similarities

The extent to which individuals in a group or setting exhibit common patterns or types of behavior.

Locus of Control

Locus of control is a psychological concept referring to an individual's belief about the extent to which their actions can influence outcomes, divided into internal and external loci of control.

External

pertains to factors, conditions, or influences that exist outside of an individual, group, or organization which can impact performance, outcomes, or decision-making.

Fate

A predetermined course of events often considered inevitable or outside human control.