If a Country Began Exporting Product a and Importing Product

question 12

Multiple Choice

If a country began exporting product A and importing product B,then,as compared to the autarky (no-trade) situation,the marginal cost of product A will

• A) increase.
• B) decrease.
• C) shift outward.
• D) shift inward.
• E) remain the same.

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Definitions:

Andrew Ure

A Scottish doctor, scholar, and industrialist of the 19th century, known for his contributions to the study of economics and manufacturing.

Human Relations

The study and management of interpersonal relationships, focusing on how to improve these relationships for the benefit of individuals and organizations.

The Philosophy of Manufacturers

An outlook or system of thought concerning the principles, practices, and ethics of producers and manufacturers.

Zygote

The initial cell formed when a new organism is produced by the union of sperm and egg cells, representing the earliest developmental stage of the embryo.