If a Country Is a Net Importer of a Good

question 49

Multiple Choice

If a country is a net importer of a good, the price of that good will ________ when the economy goes from closed to open for trade.

• A)increase
• B)stay the same
• C)first increase then decrease
• D)decrease

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Definitions:

Indirect Benefits

Advantages or gains not directly attributed to a particular action or investment but occurring as a secondary effect.

Stocks Or Bonds

Financial instruments that represent ownership in companies (stocks) or debt obligations (bonds) issued by corporations or governments.

Operates Business

The act of managing and running a company or commercial enterprise.

Collectivism

A cultural value that emphasizes the importance of groups and collective action over individual interests and achievements.