A Country Will Import a Good Only If

question 89

Multiple Choice

A country will import a good only if

• A)there is excess domestic quantity supplied at the world price
• B)domestic quantity supplied is greater than world quantity supplied
• C)domestic quantity demanded is less than world quantity demanded
• D)domestic quantity demanded is zero at the world price
• E)excess quantity demanded is positive at the world price

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Definitions:

Solution

A means by which an issue or problem is solved, or in chemistry, a homogenous mixture of two or more substances.

Absolute Value

A measure of a number's distance from zero, regardless of direction on the number line, represented by \(|x|\).

Set Notation

A symbolic way of representing and specifying a set and its elements using curly brackets and specific symbols.

Absolute Value Inequality

An inequality that contains an absolute value expression, setting constraints on the range of solutions.