-Refer to the diagram above.If this country opens up to international trade in shoes at the world price,then ____________________ are equal to ____________________ pairs of shoes per year.

Question

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When a country opens up to international trade, it will import shoes if the world price is lower than the domestic price. The difference between domestic demand and supply at the world price represents imports, which is 1000 pairs of shoes per year.

-Refer to the Diagram Above