Asked by
Jasmin Nazario
on Nov 17, 2024Verified
There are only increases in total surplus when a country exports a good, since more units of the country's output of that good are produced.
Total Surplus
The sum of consumer surplus and producer surplus in a market, representing the total benefits to society from the production and consumption of goods and services.
Exports
Items or services manufactured in one nation and marketed to purchasers in another.
- Assess the bearings of trade on consumer surplus, producer surplus, and the aggregate economic gain.
Verified Answer
BK
Learning Objectives
- Assess the bearings of trade on consumer surplus, producer surplus, and the aggregate economic gain.