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Figure 17-3 -In Figure 17-3,in the Absence of Trade,the Domestic Price of the Absence

Question 133

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Figure 17-3
Figure 17-3 -In Figure 17-3,in the absence of trade,the domestic price of soybeans is Pn.If the world price of soybeans is Pw,which of the following will occur when the United States begins to trade internationally? A) The domestic price of soybeans will rise,and domestic consumption will fall. B) Both the domestic price of soybeans and domestic consumption will rise. C) Both the domestic price of soybeans and domestic consumption will fall. D) The domestic price of soybeans will fall,and domestic consumption will rise.
Figure 17-3 -In Figure 17-3,in the absence of trade,the domestic price of soybeans is Pn.If the world price of soybeans is Pw,which of the following will occur when the United States begins to trade internationally? A) The domestic price of soybeans will rise,and domestic consumption will fall. B) Both the domestic price of soybeans and domestic consumption will rise. C) Both the domestic price of soybeans and domestic consumption will fall. D) The domestic price of soybeans will fall,and domestic consumption will rise.
-In Figure 17-3,in the absence of trade,the domestic price of soybeans is Pn.If the world price of soybeans is Pw,which of the following will occur when the United States begins to trade internationally?


A) The domestic price of soybeans will rise,and domestic consumption will fall.
B) Both the domestic price of soybeans and domestic consumption will rise.
C) Both the domestic price of soybeans and domestic consumption will fall.
D) The domestic price of soybeans will fall,and domestic consumption will rise.

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