Answer the Question(s)below Based Upon the Following Diagram Which Depicts

question 47

Multiple Choice

Answer the question(s) below based upon the following diagram which depicts country A's market for its importable.

-Refer to the figure above.If A forms a customs union with C,the quantity of trade creation will be

• A)100 units.
• B)70 units.
• C)30 units.
• D)None of the above.

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Definitions:

Federal Reserve Note

The official paper currency of the United States, issued by the Federal Reserve, and the most common form of U.S. banknotes in circulation.

Token Money

Money whose face value exceeds its cost of production, typically involving coins and paper money not backed by a commodity.

Legal Tender

The coins or banknotes that must be accepted if offered in payment of a debt.

Debit Cards

Plastic cards issued by banks that allow cardholders to transfer money electronically from their bank account when making a purchase.