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

question 272

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

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Definitions:

Self-esteem

A person's personal assessment of their own merit or importance.

Social Empathy

The ability to understand and relate to the experiences, thoughts, and emotions of individuals from different backgrounds and cultures.

Internal Locus

refers to the belief that one controls their own life events and outcomes, as opposed to external forces determining them.

Self-esteem

is the perception of one’s own worth or value, significantly influencing an individual's motivation, behavior, and emotions.