It is possible to determine how much a nation will import at various
International prices, other things being equal, by finding a set of
Equilibria.This schedule is the:
A)import demand curve for a nation.
B)export supply curve for a nation.
C)production possibilities frontier for a nation.
D)"notrade" equilibrium.

Question

It is possible to determine how much a nation will import at various
International prices, other things being equal, by finding a set of
Equilibria.This schedule is the:
A)import demand curve for a nation.
B)export supply curve for a nation.
C)production possibilities frontier for a nation.
D)"no­trade" equilibrium.

Quizplus · Accepted Answer

The schedule that determines how much a nation will import at various international prices is the import demand curve for a nation. This curve shows the amount of a particular good or service that a country is willing and able to import at different prices. Other things being equal, higher prices will result in a lower quantity demanded, while lower prices will result in a higher quantity demanded. The import demand curve is derived from the demand curve for the good or service in the importing country, taking into account the effect of the international price on the quantity demanded.

It Is Possible to Determine How Much a Nation Will