The World Price of Umbrellas Is $4

question 152

Multiple Choice

The world price of umbrellas is $4.00 each.The pre-trade price of umbrellas in England is $15 each.What would happen if England allows trade in umbrellas

• A)England will import umbrellas, and the price in England will be $20 each.
• B)England will import umbrellas, and the price in England will be $15 each.
• C)England will export umbrellas, and the price in England will be $20 each.
• D)England will export umbrellas, and the price in England will be $15 each.

---

Definitions:

Financial Agency

A business entity that provides advisory or intermediary services in financial transactions.

Consumer Debt

Personal debt incurred for the purchase of goods and services not considered investment assets.

Consumer Protection

Laws and measures designed to safeguard consumers from unfair, deceptive, or harmful practices in the marketplace.

Cooling-Off Period

A legally designated time frame during which a buyer can cancel a purchase or contract without penalty.