The Gains from Trade Are

question 181

Multiple Choice

The gains from trade are

• A)evident in economic models, but seldom observed in the real world.
• B)evident in the real world, but impossible to capture in economic models.
• C)a result of more efficient resource allocation than would be observed in the absence of trade.
• D)based on the principle of absolute advantage.

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Definitions:

Rehabilitation Act

United States legislation aimed at protecting individuals with disabilities from discrimination in programs receiving federal financial assistance, enacted in 1973.

Discrimination

Unjust or prejudicial treatment of different categories of people, especially on the grounds of race, age, sex, or disability, leading to inequality and social tension.

Federal Government

The national government of a federation, responsible for enacting and enforcing laws applicable throughout the entire country.