Table 31.1.2

-Refer to Table 31.1.2. The table shows a country's demand and supply schedules. Suppose the world price is $4 a unit. The country
A)imports 20 units.
B)exports 20 units.
C)imports 10 units.
D)exports 10 units.
E)imports 30 units.

Question

Table 31.1.2
 
-Refer to Table 31.1.2. The table shows a country's demand and supply schedules. Suppose the world price is $4 a unit. The country
A)imports 20 units. 
B)exports 20 units. 
C)imports 10 units. 
D)exports 10 units. 
E)imports 30 units.

Quizplus · Accepted Answer

At a world price of $4, the quantity demanded in the country is 120 units, while the quantity supplied is only 100 units. This means that the country is experiencing a shortage of 20 units, which they will have to import from other countries in order to satisfy demand.

Table 31.1.2 -Refer to Table 31.1.2. the Table Shows a Country's Demand