Answer to Question #277080 in Macroeconomics for Jman1256

Question

Cuba is an exporter of grain to North Korea. In a closed economy Cuba must have a domestic price that is _____ the world price of grain.

A) less than

B) greater than

C) equal to

D) close to

Answer 1

Cuba is an exporter of grain to North Korea. In a closed economy Cuba must have a domestic price that is equal to the world price of grain.