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The Accompanying Tables Show Data for the Hypothetical Nations of Alpha

Question 203

Multiple Choice

The accompanying tables show data for the hypothetical nations of Alpha and Beta. Qₛis domestic quantity supplied, and Q<sub>d</sub> is domestic quantity demanded. Assuming that Alpha and Beta are the only two nations in the world, the equilibrium world price must be higher than $1 because, at $1, A) Beta wants to import more than Alpha. B) Alpha wants to export more than Beta. C) both nations want to export steel. D) both nations want to import steel. The accompanying tables show data for the hypothetical nations of Alpha and Beta. Qₛis domestic quantity supplied, and Qd is domestic quantity demanded. Assuming that Alpha and Beta are the only two nations in the world, the equilibrium world price must be higher than $1 because, at $1,


A) Beta wants to import more than Alpha.
B) Alpha wants to export more than Beta.
C) both nations want to export steel.
D) both nations want to import steel.

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