Asked by Analise Johnson on May 07, 2024
Verified
A nation's export supply curve is downsloping, and its import demand curve is upsloping.
Export Supply Curve
An upward sloping curve that shows the amount of a product that domestic firms will export at each world price that is above the domestic price.
Import Demand Curve
A downsloping curve showing the amount of a product that an economy will import at each world price below the domestic price.
- Analyze the significance of export supply and import demand curves in trade.
Verified Answer
NR
Nicolas RodriguezMay 09, 2024
Final Answer :
False
Explanation :
Typically, a nation's export supply curve is upsloping, indicating that as the price of exports increases, the quantity supplied also increases. Conversely, the import demand curve is downsloping, showing that as the price of imports increases, the demand for imports decreases.
Learning Objectives
- Analyze the significance of export supply and import demand curves in trade.
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