According to the graph shown, if the economy opens itself to free trade, it will become a:

This graph demonstrates the domestic demand and supply for a good, as well as a quota and the world price

for that good.



A. net exporter.

B. net importer.

C. autarky.

D. quota rent seeker.


B. net importer.

Economics

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The slope of a nonlinear curve

A) changes along the curve. B) is constant. C) is negative. D) is zero.

Economics

Refer to Figure 9-3. What is the area of consumer surplus after the imposition of the quota?

A) A B) G + H C) A + G + H D) G + H + E + I+ J + M

Economics

How is producer surplus changed by the introduction of tariffs on imported shoes as shown in Exhibit 1?


a. loss of areas c, d, e, and f
b. loss of areas d and e
c. gain of area c
d. gain of area g

Economics

The main function of insurance is to

What will be an ideal response?

Economics