If There Are No Trade Restrictions,a Country Will Import a Particular

question 107

Multiple Choice

If there are no trade restrictions,a country will import a particular good if:

• A)domestic quantity supplied equals domestic quantity demanded at the world price.
• B)there is excess domestic quantity demanded at the world price.
• C)the quantity of the good demanded by the domestic consumers decreases.
• D)the quantity of the good supplied by the domestic producers increases.
• E)the world price of the good is higher than its domestic price.

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Definitions:

Promotions

Activities or strategies designed to increase the visibility, sales, or position of a product, service, or individual within a market or organization.

Tacit Knowledge

Knowledge that is difficult to transfer to another person by writing it down or verbalizing it, often gained through personal experience and context.

Componential Intelligence

A component of Sternberg's triarchic theory of intelligence that entails analytical tasks, such as problem-solving and logical reasoning.

Experiential Intelligence

Intelligence that involves the ability to use past personal experiences to solve new problems.