When a Country That Exported a Particular Good Abandons a Free-Trade

question 302

Multiple Choice

When a country that exported a particular good abandons a free-trade policy and adopts a no-trade policy,

• A)consumer surplus increases and total surplus increases in the market for that good.
• B)consumer surplus increases and total surplus decreases in the market for that good.
• C)consumer surplus decreases and total surplus increases in the market for that good.
• D)consumer surplus decreases and total surplus decreases in the market for that good.

---

Definitions:

Business Model Canvas

A strategic management tool that visually outlines a company's value proposition, infrastructure, customers, and finances, facilitating an understanding of how various business aspects interconnect.

Relaxing Spot

A place or environment conducive to relaxation, where individuals can relieve stress and enjoy tranquility.

Visualizing

The process of forming a mental image of something, often used as a technique in planning, creativity, and problem-solving.

Feasibility Study

An analysis or assessment of the practicality and potential success of a proposed project or system.