When a Country Allows Trade and Becomes an Importer of a Good,which

question 177

Multiple Choice

When a country allows trade and becomes an importer of a good,which of the following would NOT be the case

• A)The gains of domestic consumers exceed the losses of domestic producers.
• B)The losses of domestic producers exceed the gains of domestic consumers.
• C)The price paid by domestic consumers of the good decreases.
• D)The price received by domestic producers of the good decreases.

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Definitions:

Risk

Risk involves the possibility of losing something of value or the potential for an action or event to lead to an undesired outcome, often quantified in terms of probability and impact.

Negotiable Instruments

Financial documents that guarantee the payment of a specific amount of money, either on demand or at a set time, and are transferable by endorsement.

Significance

The importance or meaning attached to something, often relevant in the context of making legal, social, or scientific determinations or judgments.

Sale of Goods Act

Legislation governing the sale of goods, providing rules on contracts, property transfer, and warranties to protect buyers and sellers.