If a Country Began Exporting Product a and Importing Product

question 12

Multiple Choice

If a country began exporting product A and importing product B,then,as compared to the autarky (no-trade) situation,the marginal cost of product A will

• A) increase.
• B) decrease.
• C) shift outward.
• D) shift inward.
• E) remain the same.

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Definitions:

Past

A term used to refer to the time before the present, often regarding to historical periods, events, conditions, or one's personal experiences.

Retrieve Information

The process of accessing and bringing into consciousness information that has been stored in memory, essential for learning and problem-solving tasks.

Explicit Memory

Memory in which there is conscious recollection of information, such as facts and events.

Implicit Memory

A category of memory where past experiences contribute to task performance without the person's conscious acknowledgment of these experiences.