When a Nation Begins to Export a Good

question 41

Multiple Choice

When a nation begins to export a good,

• A)the domestic price of that good falls
• B)less of that good is produced domestically
• C)the domestic producers are made better off
• D)the domestic consumers are made better off
• E)both domestic and foreign consumers will purchase more of it

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Definitions:

Impairment

The decrease in an asset's value on a company's financial statements, reflecting that the asset is worth less than its carrying amount.

Annually

Occurring once every year.

U.S. GAAP

The United States Generally Accepted Accounting Principles, a framework of accounting standards, principles, and procedures used in the U.S.

Written Down

A term referring to an asset that has been depreciated or devalued on the financial statements.