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Figure 1 gives Home’s international trading pattern. Point P

Paper help Economics Figure 1 gives Home’s international trading pattern. Point P

Economics

Figure 1 gives Home’s international trading pattern. Point P

Figure 1 gives Home’s international trading pattern. Point P is production with trade, and point C i… Show more Figure 1 gives Home’s international trading pattern. Point P is production with trade, and point C is consumption with trade. 1) Which product does Home export? a) apple b) orange c) both apple and orange d) neither apple nor orange 2) What is the relative international price of apple according to the figure? a) 1/2 b) 1 c) 2 d) 3 3) What is the value of Home country’s openness to trade? a) 1/2 b) 2/3 c) 2 d) 4/7 • Show less

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