If a country allows trade and, for a certain good, thedomestic price without tra

ID: 1250629 • Letter: I

Question

If a country allows trade and, for a certain good, thedomestic price without trade is higher 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 ofthe good. d. Addditional information is needed about demand to determinewhether the country will be an exporter of the good, an importer ofthe good, or neither. If a country allows trade and, for a certain good, thedomestic price without trade is higher 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 ofthe good. d. Addditional information is needed about demand to determinewhether the country will be an exporter of the good, an importer ofthe good, or neither.

Explanation / Answer

B. the country will be an importer of the good. Explanation If the price is cheaper outside, automatically we will buy itoutside instead of making by ourself.

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If a country allows trade and, for a certain good, thedomestic price without tra

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