Multiple Choice
Which of the following statements is true?
A) If the domestic price of a good in a country is higher than the world price, the country will become an exporter of the good.
B) Whether a country becomes an importer or an exporter of a good depends only on the domestic price of the good and is independent of the world price of the good.
C) If the domestic price of a good in a country is higher than the world price, the country will become an importer of the good.
D) Whether a country becomes an importer or an exporter of a good depends only on the world price of the good and is independent of the domestic price of the good.
Correct Answer:

Verified
Correct Answer:
Verified
Q123: Which of the following is not a
Q124: The use of government regulations and barriers
Q125: A few decades ago,there were hardly any
Q126: Which of the following is likely to
Q127: The following figure depicts the production possibilities
Q129: Scenario: Now suppose the United States can
Q130: The following figure shows the demand curve,
Q131: Scenario: Suppose the world price is $2
Q132: Scenario: Norway and Sweden each produce cloudberries
Q133: The following figure shows the demand curve,