1. when an economy is ope

1. when an economy is ope

1. when an economy is open to trade, the relative proce of a good is determined by thea.. supply and demand for the worldb. relative supply and demand for that economyc. relative supply and demand for the worldd. suppy and demand for that economye. non of the above2. Assune a specific factors economy produces two goods, cloth and food, and that when representing the output of this economy graphically, cloth is on the x-axis and food is on the y-axis.When the price of cloth increases by 10% and the price of food increases by 10%a. the output of food fallsb. labor shift from the food sector to the cloth sectorc. the output of cloth risesd. the real wage rates are unaffected

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