An increase in domestic demand for a product protected by a quota results in an increase in producer surplus for domestic firms, while for a tariff it would result in more imports

If planned investment is greater than actual investment, then aggregate expenditure is less than GDP

Indicate whether the statement is true or false

If Gambinia has many workers but very little land and even less productive capital, then, following the Heckscher-Ohlin model, in order to improve the country's economic welfare, the Gambinian government should

A) engage in free trade. B) protect the capital-intensive product. C) protect the land-intensive product. D) protect the labor-intensive product. E) discontinue all international trade.