When a Country Allows Trade and Becomes an Importer of a Good

question 225

Multiple Choice

When a country allows trade and becomes an importer of a good,

• A)both domestic producers and domestic consumers become better off.
• B)domestic producers become better off,and domestic consumers become worse off.
• C)domestic producers become worse off,and domestic consumers become better off.
• D)both domestic producers and domestic consumers become worse off.

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Definitions:

Compliance

The act of conforming to a wish, request, or law, often due to social pressure or authority without necessarily agreeing with it.

Informational Influence

A form of social influence involving the change in beliefs or behavior that occurs when an individual accepts information from others as evidence about reality.

Group Norms

Accepted standards or behaviors shared by a group's members, guiding their actions and decisions.

Injunctive Norm

A type of social norm that describes what is commonly approved or disapproved within a culture or group.