The central macroeconomic concept that is most clearly related to changes in the well-being of the average member of the economy is the

In terms of efficiency, trade diversion is a _____ desirable outcome of a regional free-trade agreement, because trade is diverted from the ___________ producer to the __________ producer .

a. more; high-cost; low-cost b. more; less deserving; more deserving c. less; low-cost; high-cost d. less; foreign; domestic

Price discrimination by a monopolist is less effective if the

A) good can be resold. B) good has no substitutes. C) monopolist can identify buyers by willingness to pay. D) good cannot be resold.