The Following Figure Shows the Demand Curve, D, and the Supply

question 244

Multiple Choice

The following figure shows the demand curve, D, and the supply curve, S, for calculators in Barylia. The world price of calculators is $40.

-Refer to the figure above.If the economy of Barylia opens up to free trade,then which of the following statements is true?

• A) Barylia will start importing calculators.
• B) Barylia will start exporting calculators.
• C) Domestic consumers will purchase a greater quantity of calculators than before.
• D) The production and purchase of calculators in Barylia will remain the same as before.

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Definitions:

Auditory Encoding

The process by which auditory information is converted into a form that allows it to be stored in memory.

Sensory Storage

A very short-term form of memory that allows the retention of information received through the senses for a brief period.

Visual Image

A mental representation or picture perceived with the mind's eye or created by the brain’s ability to interpret visual information.

Chunking

A method of organizing information into familiar, manageable units or chunks, often used as a memory aid to enhance recall ability.