Use the following to answer questions:
Figure: Foreign Trade
-(Figure: Foreign Trade) Refer to the figure. What quantity would be traded in the absence of any international trade?
A) 600
B) 1,400
C) 1,000
D) 800

Question

Use the following to answer questions:
Figure: Foreign Trade 
-(Figure: Foreign Trade) Refer to the figure. What quantity would be traded in the absence of any international trade?
A) 600 
B) 1,400 
C) 1,000 
D) 800

Quizplus · Accepted Answer

In the absence of any international trade, the quantity traded domestically would be 1,000 (the vertical intercept of the domestic supply and demand curves).

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