Earlier in Our Study We Learned That When a Country

question 79

Multiple Choice

Earlier in our study we learned that when a country is
Opened to free trade:

• A)relative prices of the traded products do not change.
• B)absolute prices measured in the domestic currency do not change.
• C)the relative price rises in the export sector and falls in the import sector.
• D)the export sector experiences a decline in demand.

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Definitions:

Common Law

A body of unwritten laws based on legal precedents established by the courts.

Unborn Child

A term referring to a fetus or embryo that has not yet been born, often used in legal, medical, and ethical discussions.

Claim

A demand for something as due; an assertion of a right to money, property, or legal recognition.

Rescuer

An individual who saves someone from harm or danger, often in emergency situations.