When the Nation of Brownland First Permitted Trade with Other

question 191

Multiple Choice

When the nation of Brownland first permitted trade with other nations,domestic producers of wheat experienced an increase in producer surplus of $4 million and total surplus in Brownland's wheat market increased by $1 million.We can conclude that

• A)Brownland became an exporter of wheat.
• B)consumer surplus in Brownland increased by $3 million.
• C)the opening of trade caused the domestic supply curve for wheat in Brownland to shift to the left.
• D)this example is inconsistent with the economic theory of international trade.

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Definitions:

Employment Equity

The requirement that employers in the federal government and federally regulated industries increase the representation of women, people with disabilities, Aboriginal people, and members of visible minorities in their workplaces to match their availability in the workforce.

Aboriginals

Indigenous people native to a specific geographical area with distinct cultural and historical identities.

Visible Minorities

Individuals in a population who are recognized as distinct from the dominant group based on racial or ethnic characteristics.

Employee Recruitment

The process of finding and hiring the best-qualified candidates for a job opening, in a timely and cost-effective manner.