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Figure 9-1 The Figure Illustrates the Market for Wool in Scotland

Question 78

Multiple Choice

Figure 9-1
The figure illustrates the market for wool in Scotland.
Figure 9-1 The figure illustrates the market for wool in Scotland. -Refer to Figure 9-1.From the figure it is apparent that A) Scotland will export wool if trade is allowed. B) Scotland will import wool if trade is allowed. C) Scotland has nothing to gain either by importing or exporting wool. D) the world price will fall if Scotland begins to allow its citizens to trade with other countries.
-Refer to Figure 9-1.From the figure it is apparent that

A) Scotland will export wool if trade is allowed.
B) Scotland will import wool if trade is allowed.
C) Scotland has nothing to gain either by importing or exporting wool.
D) the world price will fall if Scotland begins to allow its citizens to trade with other countries.

Correct Answer: