The Graph Shown Demonstrates the Domestic Demand and Supply for a Good

question 40

Multiple Choice

The graph shown demonstrates the domestic demand and supply for a good, as well as the world price for that good. If this economy were to go from autarky to free trade, domestic production would _______ and domestic consumption would _______.

• A)fall by 60 units; increase by 30 units
• B)increase by 30 units; increase by 30 units
• C)increase by 90 units; fall by 90 units
• D)increase by 30 units; fall by 60 units

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Definitions:

Chance

The occurrence and development of events in the absence of any obvious design or predictability, often perceived as randomness.

Male Reproductive System

A series of organs and structures in males responsible for the production, maintenance, and transportation of sperm and seminal fluid.

Male Reproductive System

The series of organs and structures in males responsible for producing, maintaining, and transporting sperm and seminal fluid, as well as discharging sperm within the female reproductive tract.

Female Reproductive System

The collection of internal and external organs in females responsible for reproduction.