Which of the Following Statements About Trade Is True

question 47

Multiple Choice

Which of the following statements about trade is true?

• A) Unrestricted international trade benefits every person in a country equally.
• B) Trade can benefit everyone in society because it allows people to specialize in activities in which they have a comparative advantage.
• C) People that are skilled at all activities cannot benefit from trade because they do not have an opportunity cost in production.
• D) Trade can benefit everyone in society because it allows people to specialize in activities in which they have an absolute advantage.

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Definitions:

Media Regulation

The control or governance of media enterprises and content, typically by governmental or independent bodies, to ensure ethical standards and public welfare.

Fin-Syn Rule

A set of regulations by the FCC that prevented television networks from owning the syndication rights to their own programming content.

Independent Producers

Independent producers are individuals or companies that create content or media such as films, music, or television shows outside of the major studio systems.

Government Regulation

The act of controlling, directing, or managing activities, often through rules and regulations, by government entities.