Assume That Only Two Countries, a and B, Exist

question 25

Multiple Choice

Assume that only two countries, A and B, exist.

-Refer to the table above. You are told that Country B has no minimum wage or child labor laws. Now the correct answer is

• A) country B will export good S.
• B) country A will export good S.
• C) both countries will export good S.
• D) trade will not occur between these two countries.
• E) both countries will import good S.

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Definitions:

Qualified

Refers to meeting the necessary standards or requirements for a particular position, status, or activity.

Statue Of Frauds

A legal doctrine requiring certain agreements to be in writing and signed to be legally binding, aiming to prevent fraud.

Promises

Declarations or assurances that one will do something or that a particular thing will happen.

Mercedes

Mercedes is a global automobile brand known for its luxury vehicles, buses, coaches, and trucks, part of the German company Mercedes-Benz Group AG.