If a Nation Imports a Good That Can Be Domestically

question 127

Multiple Choice

If a nation imports a good that can be domestically produced,what happens to the quantity consumed of the good and why?

• A) The quantity consumed increases because the market price decreases.
• B) The quantity consumed decreases because the market price increases.
• C) The quantity consumed remains constant because the price is unchanged.
• D) The quantity consumed increases because the nation produces more of the good.
• E) The quantity consumed decreases because the market price decreases.

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Definitions:

Degree Of Freedom

The number of independent values or quantities which can be assigned to a statistical distribution, often related to the number of observations in a sample minus the number of parameters being estimated.

Group

A collection of individuals or items that are studied together in a research context, often to examine shared characteristics or effects of treatments.

Dependent-Samples T Test

A statistical test used to compare the means of two related groups to determine if there is a statistically significant difference between them.

Independent-Samples T Test

An independent-samples t test compares the means of two independent groups to determine if there is statistical evidence that the associated population means are significantly different.