Which of the Following Is an Example of Intraindustry Trade

question 44

Multiple Choice

Which of the following is an example of intraindustry trade?

• A)The United States imports some vehicle models from Canada, while exports other vehicle models to Canada.
• B)Japan buys computers from both the United States and China.
• C)Chinese residents buy computers made in different factories across China.
• D)Mexico exports banana to the United States, while the United States exports corn to Mexico.
• E)Canada and Mexico import wheat from the United States, but not from each other.

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Definitions:

Net Income

The total earnings or profit of a company after subtracting all expenses, taxes, and costs from its total revenue.

Overstatement

A situation where figures or values are recorded in the financial statements higher than the actual or true values.

Ending Inventory

The total value of goods available for sale at the end of an accounting period, after all purchases and sales have been accounted for.

Beginning Inventory

The value of goods available for sale at the start of an accounting period, before any purchases are added or sales are subtracted.