Multiple Choice
Which of the following is correct? i. Australian total surplus decreases when Australia exports a good.
Ii) Australian total surplus decreases when Australia imports a good.
Iii) Australian total surplus increases when Australia imports a good and when it exports a good.
A) i and ii
B) ii only
C) iii only
D) i only
E) None of the above because the Australian total surplus does not change as a result of trade.
Correct Answer:

Verified
Correct Answer:
Verified
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