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

question 128

Multiple Choice

When a country allows trade and becomes an exporter of a good:

• A)both domestic producers and domestic consumers are better off
• B)domestic producers are better off and domestic consumers are worse off
• C)domestic producers are worse off and domestic consumers are better off
• D)both domestic producers and domestic consumers are worse off

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Definitions:

Full Selling Price

The total cost to the consumer to purchase a product or service, including any taxes, fees, or additional charges.

Return on Investment

A measure of the profitability of an investment, calculated as the net profit of the investment divided by its cost.

Net Profit

Represents the amount of money a company retains after subtracting all its expenses, taxes, and costs from its total revenue.

Net Income

represents the total earnings of a company after deducting all expenses and taxes from total revenue.