If a Country Allows Trade And, for a Certain Good

question 33

Multiple Choice

If a country allows trade and, for a certain good, the domestic price without trade is lower than the world price,

• A) the country will be an exporter of the good.
• B) the country will be an importer of the good.
• C) the country will be neither an exporter nor an importer of the good.
• D) Additional information is needed about demand to determine whether the country will be an exporter of the good, an importer of the good, or neither.

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Definitions:

Discriminative Listening

The skill of listening with the aim of analyzing and evaluating the information being presented, often to discern subtle nuances.

Isolator

A device or equipment used to prevent the transfer of electrical or mechanical energy to its surroundings.

Dominator

A person or entity that exercises control or dominance over others in a particular sphere.

Long-term Assignments

Extended projects or tasks that require a considerable amount of time to complete.