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A decrease in income will lead to an increase in the quantity demanded of an inferior good. True False The free-trade price of a good
A decrease in income will lead to an increase in the quantity demanded of an inferior good.
True
False
The free-trade price of a good in an importing country is expected to be lower than the price of the good in that country before trade began.
True
False
Free trade is a zero-sum activity. That is, one county always gains and the other always loses from free trade.
True
False
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