Suppose a Country Abandons a No-Trade Policy in Favor of a Free-Trade

question 134

Multiple Choice

Suppose a country abandons a no-trade policy in favor of a free-trade policy.If,as a result,the domestic price of beans increases to equal the world price of beans,then

• A)that country becomes an exporter of beans.
• B)that country has a comparative advantage in producing beans.
• C)at the world price,the quantity of beans supplied in that country exceeds the quantity of beans demanded in that country.
• D)All of the above are correct.

---

Definitions:

Entrepreneurs

Individuals who initiate, design, and run new businesses, often characterized by innovation, risk-taking, and a knack for recognizing opportunities.

Single Pages

Web pages that are able to provide all of their content within a single page, improving user experience and interface navigability.

Work In Progress

A project or task that is currently underway and has not yet been completed.

Formal Business Plan

A detailed document that describes a business's strategy, operations, financials, and market analysis for the future.