When a nation starts opening up to international trade, it will see falling prices for
A. goods that it imports.
B. all goods traded.
C. goods that it exports.
D. goods that it has a comparative advantage in.
Answer: A
Economics
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A) total revenue and total explicit cost. B) total revenue and total cost. C) total revenue and variable cost. D) marginal revenue and marginal cost.
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If there are no externalities present in a market
A) the market price is too low. B) the market price is too high. C) the market price is in equilibrium. D) none of these choices are true.
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