A Nation Will Neither Export nor Import a Specific Product

question 311

Multiple Choice

A nation will neither export nor import a specific product when its

• A) domestic price equals the world price.
• B) export supply curve lies above its import demand curve.
• C) export supply curve is upsloping.
• D) import demand curve is downsloping.

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Definitions:

Nominal Level

The simplest level of measurement that classifies data into distinct categories within which no order or ranking can be inferred.

Research Hypothesis

A statement made by researchers predicting a potential outcome or relationship between variables in a study, to be tested through empirical research.

Ordinal Level

A measurement scale that categorizes data into ordered categories that are meaningful but not mathematically equidistant.

Spearman Rank-Order

A non-parametric measure of rank correlation that assesses how well the relationship between two variables can be described using a monotonic function.