Mutually beneficial trade is also called OA. self-sufficiency. OB. a zero- sum game. OC. international subsidization. OD. involuntary trade. O E. voluntary trade.

You manage a ball-bearing factory for a company that successfully lobbies Congress to place a tariff on imported ball-bearings. As a result: both your company and your customers will be better off your company will be better off, but your customers will be unaffected. O.C. your company will be unaffected, but your customers will be worse off Od. your company will be better off, and your customers will be worse off O a. O b.

Figure 5 Price of Wagons $18.5 8 00 5 0 40 70 90 Domestic Supply World Price Domestic Demand Quantity of Wagons Refer to Figure 5. The increase in total surplus resulting from trade is Select one: O a. $60, since consumer surplus increases by $180 and producer surplus falls by $240. O b. $75, since consumer surplus increases by $300 and producer surplus falls by $225. O c. $60, since producer surplus increases by $180 and consumer surplus falls by $240. O d. $75, since consumer surplus increases by $240 and producer surplus falls by $165.

The figure below illustrates the impact of an export subsidy as imposed by a large country. No imports are permitted. Price D D₁ O d. O b. So O (d+i+j). O (b+f+g). S₁ D Sa The production effect of the export subsidy is shown by area(s) Domestic price with subsidy World price World price with subsidy Quantity