Multiple Choice
Refer to the information provided in Figure 20.3 below to answer the question(s) that follow. 
Figure 20.3
-Refer to Figure 20.3. The domestic price of shoes is $80. After trade the price of a pair of shoes is $60. If shoes are a normal good and income in this country falls, then we would expect
A) the number of pairs of shoes imported into this country to increase.
B) the number of pairs of shoes imported into this country to decrease.
C) the number of pairs of shoes exported from this country to increase.
D) the number of pairs of shoes exported from this country to decrease.
Correct Answer:
Verified
Correct Answer:
Verified
Q240: Dumping involves a country selling its exports<br>A)
Q241: Suppose that Paraguay and Guyana are both
Q242: If the slopes of the production possibility
Q243: Comparative advantage is the only reason countries
Q244: A country enjoys a comparative advantage in
Q246: If the price of a car in
Q247: The Heckscher-Ohlin theorem explains why the U.S.
Q248: In general, for any two countries, there
Q249: Refer to the information provided in
Q250: Tariffs tend to increase the domestic price