Solved

Use the Following to Answer Question

Question 162

Multiple Choice

Use the following to answer question: Use the following to answer question:   -(Figure: The Market for Oranges in South Africa) Use Figure: The Market for Oranges in South Africa.In autarky,the price of oranges in South Africa is P<sub>1</sub>.When the economy is opened to trade,the price falls to P<sub>W</sub>.South Africa will _____ oranges,and the volume of trade will equal _____. A) import;C<sub>T</sub> - Q<sub>T</sub> B) export;C<sub>T</sub> - Q<sub>T</sub> C) import;Q<sub>1</sub> - Q<sub>T</sub> D) export;C<sub>T</sub> - Q<sub>1</sub>
-(Figure: The Market for Oranges in South Africa) Use Figure: The Market for Oranges in South Africa.In autarky,the price of oranges in South Africa is P1.When the economy is opened to trade,the price falls to PW.South Africa will _____ oranges,and the volume of trade will equal _____.


A) import;CT - QT
B) export;CT - QT
C) import;Q1 - QT
D) export;CT - Q1

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions