For any country that allows free trade,
a. domestic quantity demanded is equal to domestic quantity supplied at the world price.
b. domestic quantity demanded is greater than domestic quantity supplied at the world price.
c. both producers and consumers in that country gain when domestic products are exported, but both groups lose when foreign products are imported.
d. the domestic price is equal to the world price.
d
You might also like to view...
Lesley buys 6 cappuccinos per week when her income is $900 per week and buys 8 cappuccinos per week when her income is $1100 per week. For Lesley, cappuccinos are a(n) ________ good
A) normal B) luxury C) inferior D) essential E) substitute
An optimal consumption bundle will always be on the highest attainable indifference curve for the consumer.
Answer the following statement true (T) or false (F)
_____ is a specific location in New York City where contracts to deliver agricultural and metal products are bought and sold
a. The U.S. Department of Commerce b. The New York Stock Exchange c. The Commodity Exchange d. The Barclays Bank e. The U.S. Commodity Futures Trading Commission
The primary focus of the open-economy macroeconomic model is the determination of GDP and the price level
a. True b. False Indicate whether the statement is true or false