Asked by
apollo Jackson
on Dec 12, 2024
Verified
Compared to the no-trade situation, if the United States imports video games,
A) the price of video games will decline in the domestic market.
B) domestic video game producers will be able to charge higher prices.
C) domestic video game producers will expand both output and employment.
D) U.S. consumers will be harmed.
Imports
Goods or services brought into a country from abroad for sale.
Domestic Market
The supply and demand for goods and services within a country's borders.
Video Games
Electronic games involving interaction with a user interface to generate visual feedback on a device, ranging from consoles to computers.
- Develop an insight into how international exchange impacts market prices and quantities at the domestic level.
- Understand the relationship between trade policies and consumer prices.
Verified Answer
RG
Learning Objectives
- Develop an insight into how international exchange impacts market prices and quantities at the domestic level.
- Understand the relationship between trade policies and consumer prices.