Trade enhances the economic well-being of a nation in the sense that:
a. trade puts do...
Business, 13.12.2019 18:31 larenhemmings
Trade enhances the economic well-being of a nation in the sense that:
a. trade puts downward pressure on the prices of all goods.
b. both domestic producers and domestic consumers of a good become better off with trade, regardless of whether the nation imports or exports the good in question.
c. the gains of domestic producers of a good exceed the losses of domestic consumers of a good, regardless of whether the nation imports or exports the good in question.
d. trade results in an increase in total surplus compared with a closed economy.
Answers: 3
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