if-the-world-price-of-a-good-is-lower-than-the-domestic-price-what-is-the-likely

Question

If the world price of a good is lower than the domestic price, what is the likely trade outcome?

Accepted Answer

The country will import the good.

Answer

The country will stop trading the good.

Answer

The country will increase domestic production of the good.

Answer

The country will export the good.