Exhibit 19.2

-Refer to Exhibit 19.2,which shows the demand for and domestic supply of a good in a country.If the country decides to trade,then at a world price of $1.00,_____

Question

Exhibit 19.2
 
-Refer to Exhibit 19.2,which shows the demand for and domestic supply of a good in a country.If the country decides to trade,then at a world price of $1.00,_____

Quizplus · Accepted Answer

At a world price of $1.00, the domestic supply is 30 units, and the domestic demand is 10 units. This means that the country will import the difference between demand and supply (30-10=20 units). Thus, 20 units will be imported.

Exhibit 19.2 -Refer to Exhibit 19.2,which Shows the Demand for and Domestic