if-the-domestic-price-of-a-good-is-higher-than-the-world-price-what-is-the-likel

Question

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

Accepted Answer

The country will import the good.

Answer

The country will increase domestic production of the good.

Answer

The country will stop trading the good.

Answer

The country will export the good.