If a Country Allows Trade And, for a Certain Good

question 33

Multiple Choice

If a country allows trade and, for a certain good, the domestic price without trade is lower than the world price,

• A) the country will be an exporter of the good.
• B) the country will be an importer of the good.
• C) the country will be neither an exporter nor an importer of the good.
• D) Additional information is needed about demand to determine whether the country will be an exporter of the good, an importer of the good, or neither.

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Definitions:

Democratic Style

A leadership approach that involves participatory decision-making, where team members have a say in the process.

Organizing Process

The management function of assigning tasks, grouping tasks into departments, and allocating resources to achieve organizational objectives.

Democratic Leader

A leadership style characterized by involving team members in decision-making processes and promoting participation and collaboration.

Organize Process

A systematic method of arranging and coordinating activities or tasks to efficiently achieve a goal or output.