Suppose a Country Abandons a No-Trade Policy in Favor of a Free-Trade

question 15

Multiple Choice

Suppose a country abandons a no-trade policy in favor of a free-trade policy.If,as a result,the domestic price of pistachios decreases to equal the world price of pistachios,then

• A) that country becomes an importer of pistachios.
• B) that country has a comparative advantage in producing pistachios.
• C) at the world price,the quantity of pistachios supplied in that country exceeds the quantity of pistachios demanded in that country.
• D) All of the above are correct.

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Definitions:

Generic Data Types

A way to create functions or data structures that can operate on any data type in programming.

Hybrid Language

A programming language that combines elements of multiple programming paradigms, such as procedural and object-oriented programming.

C++

An object-oriented programming language that extends the C programming language, widely used for software development.

Marginalization

The process by which certain groups are pushed to the edge of society by limiting their access to resources and opportunities, often resulting in social and economic exclusion.