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Question
Trade makes costs of goods and services
a. lower and raises the variety of goods and services in markets.
b. lower but reduces the variety of goods and services in markets.
c. higher but reduces the variety of goods and services in markets.
d. higher but raises the variety of goods and services in markets.
e. Neither lower nor higher, since so many other variables need to be considered.
Answer
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Related questions
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What is the long-run consequence of a price ceiling law?
a. A surplus will continue to exist and will grow larger over time.
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Suppose Solomon lives in a community with no price controls. What do you expect will happen if his town borders a community where there is a binding price ceiling on most products?
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