Free trade is better than protection for a small country

Indicate whether the statement is true or false

TRUE

Economics

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In each of the following situations, list what will happen to the equilibrium price and the equilibrium quantity for a particular product, which is an inferior good

a. The population increases and productivity increases. b. Income increases and the price of inputs decrease. c. The number of firms in the market decreases and income increases. d. Consumer preference increases and the price of a complement decreases. e. The price of a substitute in consumption decreases and the price of a substitute in production decreases.

Economics

In the former Soviet Union most of the farmland was in the form of _____________________.

Fill in the blank(s) with the appropriate word(s).

Economics