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If a Nation Exports a Good When the Economy Is

question 70

Multiple Choice

If a nation exports a good when the economy is opened to trade,relative to the autarky price,the domestic price of the good will _____ and domestic consumption will _____.


Definitions:

Transfer Of Possession

The act of moving control or ownership of an asset from one party to another.

Bailee

A Bailee is a person or entity that has temporary possession of someone else's property under a bailment agreement.

Bailor

A bailor is a person or entity that entrusts their property to another (the bailee) under a bailment agreement, where the property is to be returned or otherwise disposed of according to the bailment terms.

Bailee Liability

The legal responsibility of a bailee, someone temporarily holding property for another, for damage or loss of the property.

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