A Country Will Export a Good If It

question 146

Multiple Choice

A country will export a good if it

• A) can sell the good to a foreigner at a higher price than the no-trade domestic price.
• B) can sell the good to a foreigner at a lower price than the no-trade domestic price.
• C) can dump the good on the world market.
• D) has a high opportunity cost of production.
• E) is impossible to import the good.

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Definitions:

Taxable Income

Taxable income is the portion of an individual's or corporation's income used to determine how much tax will be owed to the government.

Tax Revenues

The money obtained by governments as a result of taxation.

Borrowing

The act of obtaining or receiving something on loan with the promise or understanding of returning it or its equivalent.

Social Security Benefits

Payments made to eligible individuals, typically retirees or disabled workers, provided through a government system funded by payroll taxes.