Suppose a Country Abandons a No-Trade Policy in Favor of a Free-Trade

question 15

Multiple Choice

Suppose a country abandons a no-trade policy in favor of a free-trade policy.If,as a result,the domestic price of pistachios decreases to equal the world price of pistachios,then

• A) that country becomes an importer of pistachios.
• B) that country has a comparative advantage in producing pistachios.
• C) at the world price,the quantity of pistachios supplied in that country exceeds the quantity of pistachios demanded in that country.
• D) All of the above are correct.

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