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sgy_89 sgy_89
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7 years ago
Suppose that trade barriers against imported flowers were reduced. Which of the following would be most likely to occur? (Assume that there is no difference between imported flowers and domestically produced flowers.)
A) The prices of imported flowers would tend to rise, and the prices of domestically produced flowers would tend to fall.
B) The prices of imported and domestically produced flowers would tend to fall.
C) The prices of imported flowers would tend to fall and the prices of domestically produced flowers would be unchanged.
D) The prices of imported flowers would tend to fall and the prices of domestically produced flowers would tend to rise.
E) The prices of imported and domestically produced flowers would tend to rise.
Textbook 
Introduction to Economic Reasoning

Introduction to Economic Reasoning


Edition: 8th
Author:
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foliogefolioge
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