If the United States Starts to Import a Good That

question 73

Multiple Choice

If the United States starts to import a good that had previously been produced in the United States,the market price of the good in the United States

• A) rises.
• B) falls.
• C) remains constant.
• D) either remains constant or rises, depending on how whether the supply of the good stays the same or increases.
• E) There is not enough information to answer the question because we need to know if the market price in the United States had been above or below the world market price before trade began.

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Definitions:

Unimodal

Describing a distribution with a single peak or mode, indicating the most frequently occurring value in the dataset.

Symmetrical

Having balanced proportions or identical forms on both sides of a dividing line or plane.

Bimodal

Describes a distribution that has two different modes or peaks, reflecting two distinct groups within the data set.

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