According to the graph shown, if the economy were to open to free trade, it would become:
This graph demonstrates the domestic demand and supply for a good, as well as a tariff and the world price for that good.
A. a net-importer.
B. a net-exporter.
C. an autarky.
D. less efficient with less overall market surplus.
A. a net-importer.
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Traveler's checks are included in
A) M1 only. B) M2 only. C) both M1 and M2. D) neither M1 nor M2.
Which of the following statements is true of Black Wednesday?
A) Following Black Wednesday, the British pound became less valuable relative to the German mark. B) Currency traders who had borrowed pounds to buy German marks incurred huge losses due to Black Wednesday. C) The British government earned enormous profits by selling foreign currency reserves following Black Wednesday. D) Following Black Wednesday, the British pound became more valuable relative to the German mark.
Explain why a production quota is inefficient
What will be an ideal response?
Why should imports be excluded from gross domestic product? How is a purchase of an import recorded in the components of GDP?
What will be an ideal response?