The Figure Given Below Shows the Import Demand and Export

question 61

Multiple Choice

The figure given below shows the import demand and export supply curves of corn in the U.S. and Mexico.Figure 20.2

-Refer to Figure 20.2. The no-trade equilibrium price of a bushel of corn in Mexico is:

• A)$2.
• B)$4.
• C)$6.
• D)$8.
• E)$10.

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Definitions:

Social Facilitation

The tendency for individuals to perform differently when in the presence of others than when alone, typically showing improved performance on simple or well-learned tasks.

Power Distance

A cultural dimension that measures the extent to which less powerful members of society accept and expect that power is distributed unequally.

Hierarchy

A system or organization in which people or groups are ranked one above the other according to status or authority.

Committed

The state of being dedicated or devoted to a cause, activity, or goal, typically implying a long-term engagement or obligation.