The Table Above Has the Domestic Demand and Domestic Supply

question 56

Multiple Choice

$\begin{array} { c c c } \hline \begin{array} { c } \text { Price } \\\text { (dollars per unit) }\end{array} & \begin{array} { c } \text { Quantity demanded } \\\text { (units per day) }\end{array} & \begin{array} { c } \text { Quantity supplied } \\\text { (units per day) }\end{array} \\\hline 2 & 20 & 14 \\4 & 19 & 16 \\6 & 18 & 18 \\8 & 17 & 20 \\10 & 16 & 22 \\12 & 15 & 24 \\\hline\end{array}$ The table above has the domestic demand and domestic supply schedules for a good.
- If the world price of the good is $10, then according to the table

• A)domestic production is higher before trade than after trade.
• B)the country imports 6 units a day.
• C)the country exports 22 units a day.
• D)the country exports 6 units a day.
• E)the country imports 16 units a day.

---

Definitions:

Exchange Gain/Loss

A financial result that occurs when the value of foreign currency transactions changes due to fluctuations in exchange rates between the initial transaction and settlement dates.

Functional Currency

The primary currency of the primary economic environment in which an entity operates, used in its financial reporting.

Dividends

Payments made by a corporation to its shareholder members, distributing a portion of the company’s earnings.

Exchange Rates

The rate at which one currency can be exchanged for another currency, used in global transactions and currency conversion.