A nation will import a good if its no-trade,domestic
A) price is equal to the world price.
B) price is less than the world price.
C) price is greater than the world price.
D) quantity is less than the world quantity.
E) quantity is greater than the world quantity.

Question

Quizplus · Accepted Answer

A nation will import a good if its no-trade, domestic price is greater than the world price, because it can obtain the good more cheaply on the world market than it can produce it domestically.

A Nation Will Import a Good If Its No-Trade,domestic