Multiple Choice
If a country allows trade and, for a certain good, the domestic price without trade is lower than the world price,
A) the country will be an exporter of the good.
B) the country will be an importer of the good.
C) the country will be neither an exporter nor an importer of the good.
D) Additional information is needed about demand to determine whether the country will be an exporter of the good, an importer of the good, or neither.
Correct Answer:

Verified
Correct Answer:
Verified
Q28: As a result of a tariff on
Q29: Which of the following would be the
Q30: If tariffs are decreased, the long-run effect
Q31: At one time, it was believed that
Q32: Figure 17-8 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7348/.jpg" alt="Figure 17-8
Q34: Figure 17-10 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7348/.jpg" alt="Figure 17-10
Q35: Fixing exchange rates and limiting the convertibility
Q36: The law of comparative advantage explains why
Q37: The primary benefits derived from tariffs usually
Q38: A nation can gain from international trade