Author Question: Suppose a nation opens up to free trade and becomes an exporter of goods. Which of the following is ... (Read 152 times)

yoroshambo · **on:** Jun 29, 2018

Suppose a nation opens up to free trade and becomes an exporter of goods. Which of the following is then true?

A) The nation as a whole suffers losses.
B) Sellers lose.
C) Buyers lose.
D) Buyers gain.

Question 2

Other things constant, if tuition at a private university rises from 40,000 to 45,000 and revenue for the university decreases, the demand for the good must be

A) increasing.
B) inelastic.
C) unit elastic.
D) elastic.