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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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