In Analyzing the Gains and Losses from International Trade, to Say

question 171

Multiple Choice

In analyzing the gains and losses from international trade, to say that Moldova is a small country is to say that

• A)Moldova can only import goods; it cannot export goods.
• B)Moldova's choice of which goods to export and which goods to import is not based on the principle of comparative advantage.
• C)only the domestic price of a good is relevant for Moldova; the world price of a good is irrelevant.
• D)Moldova is a price taker.

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Definitions:

Market Demands

The total quantity of a product or service that consumers are willing and able to purchase at various price levels at a given time.

Direct Authority

The explicit power granted to an individual within an organization to make decisions, give orders, and enforce obedience, often aligned with their position in the organizational hierarchy.

Workforce

The collective group of individuals who are engaged in any form of employment, whether in a company, organization, or self-employed.