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If a Nation Exports a Good When the Economy Is

question 70

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If a nation exports a good when the economy is opened to trade,relative to the autarky price,the domestic price of the good will _____ and domestic consumption will _____.


Definitions:

Encode

The process of converting information into a particular form for efficient storage, processing, or transmission.

Explicit Memory

A type of long-term memory that involves conscious recall of facts and events.

Betsy Ross

Traditionally credited with sewing the first American flag, she is a symbolic figure in American history.

American Flag

The national flag of the United States, consisting of thirteen horizontal stripes and fifty stars representing the states.

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