Which of the following statement is true regarding preferential trade agreements (PTA)? Select All that apply

a.

PTAs always benefit consumers in the member countries.

b.

If a country is not a member of a particular PTA, its welfare won't be affected by this particular PTA.

c.

If a PTA leads to trade creation, it's welfare-enhancing to member countries.

d.

If a PTA leads to trade diversion, it's welfare-reducing to member countries.

e.

PTAs always benefit producers in the member countries.