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Which of the following will occur when country Arabiana moves from protectionism to free trade? Overall domestic production declines. Nominal wages of the workers in
Which of the following will occur when country Arabiana moves from protectionism to free trade?
Overall domestic production declines.
Nominal wages of the workers in the protected industries of Arabiana decline.
Prices of all goods increase as compared to autarky.
Competition faced by domestic producers declines.
The government will earn substantial revenue from import duty.
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