The world price of a ton of steel is $650 . Before Russia allowed trade in steel, the price of a ton of steel there was $1,000 . Once Russia allowed trade in steel with other countries, Russia began
a. exporting steel and the price per ton in Russia decreased to $650.
b. exporting steel and the price per ton in Russia remained at $1,000.
c. importing steel and the price per ton in Russia decreased to $650.
d. importing steel and the price per ton in Russia remained at $1,000.
c
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The money demand curve has a negative slope because
A) lower interest rates cause households and firms to switch from financial assets to money. B) lower interest rates cause households and firms to switch from money to financial assets. C) lower interest rates cause households and firms to switch from money to bonds. D) lower interest rates cause households and firms to switch from money to stocks.
Fairness legislation protects all workers from unfairly being fired
Indicate whether the statement is true or false
When firms are faced with making strategic choices in order to maximize profit, economists typically use ____ to model their behavior
a. monopoly theory b. game theory c. cartel theory d. the theory of perfect competition
An increase in demand for a good can be caused by
A) a decrease in the price of a substitute good. B) a reduction in income if the good is a normal good. C) a decrease in the price of a complementary good. D) an increase in price of a complementary good.