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

question 134

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 beans increases to equal the world price of beans,then

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

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