Assume,for the U

question 87

Multiple Choice

Assume,for the U.S.,that the domestic price of pineapples without international trade is lower than the world price of pineapples.This suggests that,in the production of pineapples,

• A) the U.S. has a comparative advantage over other countries and the U.S. will export pineapples.
• B) the U.S. has a comparative advantage over other countries and the U.S. will import pineapples.
• C) other countries have a comparative advantage over the U.S. and the U.S. will export pineapples.
• D) other countries have a comparative advantage over the U.S. and the U.S. will import pineapples.

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Definitions:

Consideration

Something of value exchanged between parties in a contract, making the agreement legal and binding.

Bargained-For Exchange

An element of contracts where both parties agree to provide something of value to the other.

Negotiation of Contracts

The process of discussing terms and details between parties in order to reach a mutual agreement before finalizing a contract.

Uniform Commercial Code

An extensive collection of regulations that oversee every commercial activity in the United States, designed to synchronize the legislation of sales and various commercial dealings throughout the states.