The Gap between Imports and Exports is called as     Question 5 options:     Trade gap       Trade Balance       Trade Deficit       Trading

i will 10 upvotes urgent.

Please assist with question a and b i, ii and iii.

Question 02. In terms of welfare, what is a difference between a tariff imposed by a large country and a tariff imposed by a small country? A. A tariff imposed by a large country has no deadweight consumption and production losses. B. A tariff imposed by a large country has a terms-of-trade effect. C. A tariff imposed by a small country has a terms-of-trade effect. D. A tariff imposed by a large country has no deadweight consumption loss. Question 03. The small nation of Endor currently produces 100,000 board feet of lumber at $600 per 1,000 board feet. Then it begins to trade at the world price of $500 per 1,000 board feet. As a result of trade, Endor's production falls to 50,000 board feet and its consumption increases to 200,000 board feet. What is Endor's total gain in consumer surplus once it begins to trade? A. $10,000 B. $15,000 C. $100,000 D. $150,000

QUESTION 34 If the U.S. started to import textiles from Mexico according to a free trade agreement, but the U.S. previously acquired textiles from Costa Rica for less money, what kind of trade situation would the U.S. be in? A. Trade generation B. Trade creation C. Trade diversion D. Trade notification