Refer to the information provided in Figure 33.3 below to answer the question(s) that follow. Figure 33.3
-Refer to Figure 33.3. The domestic price of shoes is $80. After trade the price of a pair of shoes is $60. After trade this country will ________ 300 pairs of shoes.
A) buy
B) sell
C) import
D) export

Question

Refer to the information provided in Figure 33.3 below to answer the question(s) that follow.  Figure 33.3
-Refer to Figure 33.3. The domestic price of shoes is $80. After trade the price of a pair of shoes is $60. After trade this country will ________ 300 pairs of shoes.
A) buy 
B) sell 
C) import 
D) export

Quizplus · Accepted Answer

The domestic price of shoes is higher than the world price of shoes, so the country will import shoes. The decrease in price after trade indicates that the country is able to obtain shoes from international producers at a lower cost. Therefore, the country will import 300 pairs of shoes.

Refer to the Information Provided in Figure 33