Suppose in autarky the price of bananas is $1/pound. If the country opens up to trade and the world price is $.50/pound, ___________ will increase and ___________ will also increase
A. Exports; Consumer Surplus
B. Exports; Producer Surplus
C. Imports; Consumer Surplus
D. Imports; Producer Surplus

Question

Suppose in autarky the price of bananas is $1/pound. If the country opens up to trade and the world price is $.50/pound, ___________ will increase and ___________ will also increase
A. Exports; Consumer Surplus
B. Exports; Producer Surplus
C. Imports; Consumer Surplus
D. Imports; Producer Surplus

Suppose in autarky the price of bananas is $1/pound. If the country opens up to trade and the world price is $.50/pound, _ will increase and _ will also increase

A. Exports; Consumer Surplus

B. Exports; Producer Surplus

C. Imports; Consumer Surplus

D. Imports; Producer Surplus

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Suppose in autarky the price of bananas is $1/pound. If the country opens up to trade and the world price is $.50/pound, ___________ will increase and ___________ will also increase A. Exports; Consumer Surplus B. Exports; Producer Surplus C. Imports; Consumer Surplus D. Imports; Producer Surplus