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Author Question: Refer to the figure above. If Lithasia opens up to free trade, then which of the following ... (Read 111 times)

debasdf

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on: Jun 29, 2018
Refer to the figure above. If Lithasia opens up to free trade, then which of the following statements is true?
 
  A) The domestic production of pens in Lithasia will increase.
  B) The domestic price of pens will increase.
  C) Lithasia will start exporting pens.
  D) Lithasia will start importing pens.

Question 2

Money prices are an extremely effective device for promoting social cooperation because
 
  A) most people want money more than they want anything else.
  B) people are basically selfish.
  C) scarcity can be eliminated through appropriate changes in money prices.
  D) they don't change rapidly when circumstances change.
  E) they help to clarify the options available to people.


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mistyjohnson

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

E


debasdf

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

elyse44

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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