答案如下
The before-trade price of cotton in Ghana is USD200 per ton. The world price of cotton is $300 per ton. If trade in cotton is allowed, Ghana will become an:
A) importer of cotton, and the price of cotton in Ghana will be USD 200.
B) exporter of cotton, and the price of cotton in Ghana will be USD 300.
C) importer of cotton, and the price of cotton in Ghana will be USD 300.
D) exporter of cotton, and the price of cotton in Ghana will be USD 200.
Your answer: B was correct!
When trade is allowed the world price prevails. A world price higher than the domestic price will induce domestic suppliers to export all their cotton, and Ghana becomes an exporter in cotton. Domestic cotton prices will increase to the world price to induce a domestic supply.
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发表于 2006-4-3 12:29
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