If a Country Is an Exporter of a Good,then It

question 33

Multiple Choice

If a country is an exporter of a good,then it must be the case that

• A)the world price is less than its domestic price.
• B)consumer surplus is higher than a no trade situation.
• C)the world price is greater than its domestic price.
• D)they used an infant-industry argument to protect its producers.

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Definitions:

Void Contract

refers to an agreement with no legal effect from the beginning due to an illegal purpose or violation of a mandatory statute.

Voidable Contract

A legal agreement that is valid and enforceable on its face, but can be declared void by one or more of the parties for certain legal reasons.

Contract Formation

The process by which parties' agreement reaches the point where a legally binding contract is established.

Elements Necessary

Fundamental components or conditions required for a legal claim, contract, or other judicial act to be valid or enforceable.