If the price of a good in a closed economy is greater than the world price, then if the country opens its markets to world trade the country will be a ________ of that good.

The term "classical" refers to an economic theory which states that over a relatively short period of time, wages and prices will adjust quickly to bring the economy back to full employment

Indicate whether the statement is true or false

One of the main reasons that explains why the Industrial Revolution started in Britain is that:

A) economic agents in Britain opposed creative destruction. B) Britain was a command economy. C) Britain had inclusive institutions. D) property rights were absent in Britain.