In economics, a free rider is someone who relies on others to pay his bills

A good's Demand Curve is QD = 25 - P, and its Supply Curve is QS = 10 + 2P

a. When P = $20, what is the difference, if any, between QD and QS? b. When P = $3, what is the difference, if any, between QD and QS? c. What are the equilibrium values of P and Q?

Preferential trade agreements have a beneficial trade-diversion effect when they reduce prices for traded goods and stimulate the volume of international trade

a. True b. False Indicate whether the statement is true or false