If a nation exports a product, then the price of that product in the nation
A. will rise above the domestic (no-trade) equilibrium price.
B. may either rise or fall, depending on the product.
C. will fall below the domestic (no-trade) equilibrium price.
D. will remain the same as the domestic (no-trade) equilibrium price.
Answer: A
You might also like to view...
When Acme Inc produces a certain amount of output by using the least amount of inputs, Acme Inc definitely
A) maximizes profits. B) minimizes labor costs. C) achieves technological efficiency. D) achieves economic efficiency.
When the productivity of capital decreases, _____
a. the demand curve for capital shifts to the right b. the price of the good in which capital is used as a resource increases c. the supply curve for capital shifts to the left d. the equilibrium rental rate of capital decreases
If a single firm in a price-taker market lowers its price below the market equilibrium price,
a. it will get a larger share of the market. b. it will lose revenue without increasing the quantity it can sell. c. other firms will lower their prices. d. other firms will be driven out of the industry.
In general, a dry cleaner in a small town is ______________ likely to be unethical in his business practices than a dry cleaner in a large city. This is because the larger a percentage of the population one person is, the _____________likely that person will have to further engage with people he encounters
A) more; less B) less; less C) more; more D) less; more