If the World Price of a Good Is Greater Than

question 102

True/False

If the world price of a good is greater than the domestic price in a country that can engage in international trade, then that country becomes an importer of that good.

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Definitions:

Intelligence

The ability to learn, understand, and apply knowledge, reason logically, plan effectively, comprehend complex ideas, and learn from experience.

Homo Habilis

is an extinct species of early human that lived approximately 2.4 to 1.4 million years ago, known for its use of stone tools.

Homo Erectus

An extinct species of hominid that lived from roughly 1.9 million to about 140,000 years ago, known for being one of the first hominins to have a stature and gait similar to that of modern humans.

Ontological Security

The creation of a personal narrative that provides a coherent sense of the self. An individual’s impression that the world is stable, continuous, and predictable, which is often produced through routinized activity.