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) rise by 2,000 units; stay the same
B) rise by 5,000 units; fall by 5,000 units
C) fall by 3,000 units; fall by 3,000 units
D) rise by 2,000 units; fall by 3,000 units
Correct Answer:
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Q62: The graph shown demonstrates the domestic demand
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Q70: The graph shown demonstrates the domestic demand
Q71: The graph shown demonstrates the domestic demand
Q72: The graph shown demonstrates the domestic demand
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