If Australia starts to import a good that had previously been produced in Australia,the market price of the good in Australia
A) remains constant.
B) falls.
C) There is not enough information to answer the question because we need to know if the market price in Australia had been above or below the world market price before trade began.
D) rises.
E) either remains constant or rises,depending on whether the supply of the good stays the same or increases.
Correct Answer:
Verified
Q1: Goods and services that Australia buys from
Q7: A country exports the goods
A)in which it
Q9: The country with a comparative advantage in
Q10: A country will export a good if
Q12: How can a domestic producer determine whether
Q13: Australia imports motor vehicles because
A) foreign economies
Q13: A nation has a comparative advantage in
Q14: Goods and services that Australia sells to
Q17: If a nation can produce a good
Q19: The fundamental force that generates international trade
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