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Author Question: Membership in a customs union may be either welfare improving or welfare worsening. Illustrate and ... (Read 163 times)

haleyc112

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on: Jun 30, 2018
Membership in a customs union may be either welfare improving or welfare worsening. Illustrate and explain.
 
  What will be an ideal response?

Question 2

In Canada, there are no preferences given to Canadian tv networks and programming over U.S. networks and programming.
 
  Indicate whether the statement is true or false


fromAlphatoOmega22

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Reply #1 on: Jun 30, 2018
Answer to Question 1

It can be welfare worsening if trade diversion is large and trade creation is small. Graphically, this will be more likely when the partner country's price is quite a bit higher than the world price.

Answer to Question 2

FALSE


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