A Country Exports a Good If

question 161

Multiple Choice

A country exports a good if

• A) it has a high opportunity cost of production.
• B) the world price of the good is below the country's no-trade equilibrium price.
• C) the world price of the good is above the country's no-trade equilibrium price.
• D) the quantity demanded of the good in the country is greater than the quantity supplied at the world price.
• E) it cannot import the good.

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Definitions:

Fixed Overhead Budget

A financial plan that outlines the expected fixed costs that are not dependent on the level of goods or services produced by the organization.

Unexpected Increase

A sudden and unforeseen rise in metrics such as costs, sales, or price levels that was not anticipated as part of the regular business planning process.

Factory Rent

The cost associated with leasing a facility used for production or manufacturing operations.

Electricity Rate

The price per unit of electric power, which can vary depending on the supplier, region, and the structure of the pricing plan.