The World Price of a Commodity Will Settle at the Level

question 51

Multiple Choice

The world price of a commodity will settle at the level where

• A)​supply and demand are equal within each country.
• B)​the excess demand of the importing country is just equal to the excess supply of the exporting country.
• C)​the excess demand in the exporting country is equal to the excess demand in the importing country.
• D)​there is no excess demand in the exporting country.

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Definitions:

Carracci Family

A family of Italian Renaissance painters from Bologna, known for significant contributions to the Baroque style.

Art

The expression or application of human creative skill and imagination, typically in a visual form such as painting or sculpture, producing works to be appreciated primarily for their beauty or emotional power.

José De Ribera

A Spanish painter and printmaker, noted for his realistic depictions and dramatic use of light, who worked mostly in Italy.

Caravaggio

An Italian painter known for his dramatic use of light and shadow, and his realistic depiction of the human state, both physical and emotional.