Suppose a country abandons a no-trade policy in favor of a
free-trade policy. If, as a result, the domestic price of beans
increases to equal the world price of beans, then:

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Question: Suppose a country abandons a no-trade policy in favor of a free-trade policy. If, as a result, th…
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a. that country becomes an exporter of
beans.
b. that country has a comparative advantage in producing
beans.
c. at
the world price, the quantity of beans supplied in that country
exceeds the quantity of beans demanded in that
country.
d. All of the choices apply.

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