c Back to Assignment Attempts: Score: /1 17. Chapter mazpe08r, Section .92, Prob

Question

c Back to Assignment Attempts: Score: /1 17. Chapter mazpe08r, Section .92, Problem 003 (ID: 003.09.2- MC-MANKOS) When, in our analysis of the gains and losses from international trade, we assume that a particular country is small, we are O a. assuming the domestic price before trade will continue to prevail once that country is opened up to trade with other countries. O b. assuming there is no demand for that country's domestically-produced goods by other countries. O c. assuming international trade can benefit producers, but not consumers, in that country O d. making an assumption that is not necessary to analyze the gains and losses from intemational trade. Continue without saving Type here to search

Explanation / Answer

A small country, according to the international trade theory, is a country that is not in a situation to impact prices of goods and services through demand and supply control.

Therefore, the accurate answer is option a.

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