The graph shown demonstrates the domestic demand and supply for a good, as well as the world price for that good.
If this economy were to go from autarky to free trade, domestic production would _______ and domestic consumption would _______.
A) fall by 60 units; increase by 30 units
B) increase by 30 units; increase by 30 units
C) increase by 90 units; fall by 90 units
D) increase by 30 units; fall by 60 units
Correct Answer:
Verified
Q49: The graph shown demonstrates the domestic demand
Q50: The graph shown demonstrates the domestic demand
Q51: The graph shown demonstrates the domestic demand
Q52: The graph shown demonstrates the domestic demand
Q53: The graph shown demonstrates the domestic demand
Q55: The graph shown demonstrates the domestic demand
Q56: Imports are goods and services that are:
A)produced
Q57: The graph shown demonstrates the domestic demand
Q58: The graph shown demonstrates the domestic demand
Q59: The graph shown demonstrates the domestic demand
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