If a Country Begins to Import a Good

question 23

Multiple Choice

If a country begins to import a good,

• A)it has a comparative advantage in producing that good
• B)it has a comparative advantage in consuming that good
• C)domestic consumers are made better off
• D)domestic producers are made better off
• E)both domestic consumers and domestic producers are harmed

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Definitions:

Intangibles

Intangibles are assets that lack physical substance but possess value, such as intellectual property, goodwill, and brand recognition.

Goods

All physically existing things that are movable at the time of identification in the contract for sale.

Proceeds

The amount of money received from a transaction, often referring to the sale of assets or property.

Documents Of Title

Legal documents that prove ownership of goods or property, such as bills of lading or warehouse receipts.