Economics · Macroeconomics
Which of the following statements about output markets in an open economy is correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Only producers benefit from international trade
- 2Trade in goods and services allows wider consumer and producer choice✓
- 3Consumers are restricted to domestically produced goods
- 4A country can only produce what it consumes
Correct answer
Trade in goods and services allows wider consumer and producer choice
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