The domestic market failure argument is a particular case of the theory of

The gold standard dominated exchange rate systems during what period?

A) from 1776 to 1816 B) from 1836 to 1849 C) from 1870 to 1913 D) from 1945 to 1965

Which of the following is true?

i. When the world price of a good is lower than the price that balances domestic supply and demand, a country gains from exporting the good. ii. Compared to a no-trade situation, in a market with imports, consumer surplus is larger. iii. Quotas raise the domestic price of imported goods. A) only i B) only ii C) only iii D) i and ii E) ii and iii