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True or False
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1

Oligopoly arises as a result of internal scale economies.
A)TRUE
B)FALSE
2

Most intra-industry trade (IIT) involves trade in standardized products.
A)TRUE
B)FALSE
3

With monopolistic trade, consumers of the exported good in the exporting country will lose as a result of trade.
A)TRUE
B)FALSE
4

Trade models based on substantial scale economies can predict production locations.
A)TRUE
B)FALSE
5

As compared to the standard competitive trade model, trade based on monopolistic competition has a greater impact on producing firms and factor incomes.
A)TRUE
B)FALSE





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