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This Graph Demonstrates the Domestic Demand and Supply for a Good,as

question 43

Multiple Choice

This graph demonstrates the domestic demand and supply for a good,as well as a quota and the world price for that good. This graph demonstrates the domestic demand and supply for a good,as well as a quota and the world price for that good.   According to the graph shown,when this economy was open to free trade without restriction,the amount imported was: A) 1250. B) 900. C) 650. D) 1000.
According to the graph shown,when this economy was open to free trade without restriction,the amount imported was:

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Definitions:

Current Account

A component of a country's balance of payments that measures the trade balance plus net income and direct payments between countries.

Flows of Funds

The movements of money between sectors of an economy, showing how funds are used and where they come from.

Net Income

The profit of a company after all expenses and taxes have been deducted from total revenue.

Balance of Payments

A financial statement that summarizes a country’s transactions with the rest of the world, including imports, exports, and capital flows.

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