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If the World Price of Steel Is Greater Than the U.S."no-Trade

Question 46

Multiple Choice

If the world price of steel is greater than the U.S."no-trade" domestic equilibrium price of steel,the United States:


A) will not produce steel.
B) will demand steel from the rest of the world.
C) will supply steel to the rest of the world.
D) will not trade steel.
E) will have a shortage of steel in the domestic market.

Correct Answer:

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