-If the Economy in the Diagram Above Is Open to Trade

question 1

Multiple Choice

-If the economy in the diagram above is open to trade and the world price of oil is $25 per barrel,then this economy will _________ million barrels of oil.

• A) export 6
• B) export 8
• C) export 10
• D) import 10
• E) import 6

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Definitions:

Social Planning

The process of formulating and implementing policies and programs to meet societal needs and improve community welfare and integration.

Community Organization

the process of bringing together individuals and groups to address common issues and objectives, enhancing the social, economic, and environmental well-being of communities.

Ecological Systems Model

A framework that examines individuals through the context of the different environments (micro, meso, exo, macro) that influence their lives.

Equifinality

A principle in systems theory stating that different initial conditions can lead to the same end state.