Which of the Following Is True

question 239

Multiple Choice

Which of the following is true?
i.Comparative advantage drives international trade.
ii.Compared to a no-trade situation,in a market with imports,producer surplus is larger.
iii.Tariffs lower the domestic price of imported goods.

• A) only i
• B) only ii
• C) only iii
• D) i and ii
• E) i and iii

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Definitions:

Latin America

A region in the Americas characterized by countries that primarily speak Spanish, Portuguese, and French, known for its diverse cultures, history, and significant socioeconomic challenges.

Convention Of 1818

An agreement between the U.S. and Britain that settled the Canada-U.S. border along the 49th parallel for much of its stretch and allowed joint occupancy and settlement of the Oregon Territory.

Great Lakes

A group of five large freshwater lakes in North America that include Lake Superior, Michigan, Huron, Erie, and Ontario, collectively forming the largest group of freshwater lakes in the world by total area.

Joint Occupation

A situation where two or more parties share control and governance of a certain territory or area, often as a result of a treaty or mutual agreement.