If No Trade Restrictions Exist, Under What Conditions Will a Country

question 98

Multiple Choice

If no trade restrictions exist, under what conditions will a country import a particular good?  

• A) if domestic quantity supplied equals domestic quantity demanded at the world price 
• B) if there is excess domestic quantity demanded at the world price 
• C) if world quantity supplied is less than world quantity demanded 
• D) if world quantity supplied is greater than world quantity demanded

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Definitions:

If Statement

A conditional statement in programming that executes a block of code only if a specified condition is true.

Value Of Sum

An expression representing the total result of adding two or more numbers or variables together.

If Statement

A control flow statement that allows conditional execution of a block of code, depending on the truth value of an expression.

Value Of Y

This term refers to discovering or discussing the numerical or literal content assigned to the variable identified as 'Y'.