When Looking at the Impact of a Change in Trade

question 14

Multiple Choice

When looking at the impact of a change in trade policy economists use consumer and producer surplus to look at the winners and losers. Free trade economists insist that

• A)no one loses.
• B)everyone loses.
• C)there are winners and losers but that the gain to the winners is greater than the loss to the losers.
• D)there are winners and losers but that the loss to the losers is greater than the gain to the winners.

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Definitions:

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