Fill in the blanks to make the following statements correct.
a. Such a product as coffee beans is cheaply transported and is traded around the world. The law of ______ tells us that it will tend to have ______ worldwide price.
b. If the domestic price of copper wire in Canada (in the absence of trade) is $20 per unit and the world price is $24 per unit, then Canada will have an excess ______, which it will then ______. The opportunity cost of producing copper wire in Canada is ______ than ______ the opportunity cost of producing it in the rest of the world.
c. Canada will import goods for which it has an excess ______ at the world price. In the absence of trade, the price of these goods would be less than the price.
d. A rise in Canada's terms of trade means that the average price of Canada's ______ has risen compared with the average price of Canada's ______. This change is referred to as a terms of trade
e. The terms of trade determine the quantity of ______ that can be obtained per unit of ______.