If a Country Allows Trade And, for a Certain Good

question 58

Multiple Choice

If a country allows trade and, for a certain good, the domestic price without trade is higher than the world price,

• A) the country will be an exporter of the good.
• B) the country will be an importer of the good.
• C) the country will be neither an exporter nor an importer of the good.
• D) Additional information is needed about demand to determine whether the country will be an exporter of the good, an importer of the good, or neither.

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Definitions:

HR Forecasting Calculations

The process of estimating the future human resource needs of an organization based on its business plans and strategies.

Human Capital Requirements

The necessary skills, knowledge, and experience required by an organization from its workforce to achieve its strategic objectives.

Time Horizons

The length of time over which an individual, organization, or policy envisions an action plan or project will unfold.

Firm-specific Human Capital

Employees' knowledge, skills, and experiences that are valuable and tailored to a specific company's context.