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Author Question: International equilibrium occurs if the quantity of imports demanded by one country is equal to the ... (Read 113 times)

piesebel

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on: Jun 30, 2018
International equilibrium occurs if the quantity of imports demanded by one country is equal to the quantity of exports supplied by the other country.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

Relative to a no-international-trade initial situation, if the United States imported wine from other countries with a comparative advantage in wine production, the U.S. domestic price of wine:
 a. would rise, but domestic output would fall.
  b. would fall, but domestic output would rise.
  c. would rise, and domestic output would rise.
  d. would fall, and domestic output would fall.


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paavo

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Reply #1 on: Jun 30, 2018
Answer to Question 1

True

Answer to Question 2

d


piesebel

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Reply #2 on: Jun 30, 2018
Thank you :)


paavo

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Reply #3 on: Jun 30, 2018
Happy to help you


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