Foreign Trade

question 19

Multiple Choice

Foreign trade:

• A) Increases the scarcity of resources.
• B) Makes a country more equitable.
• C) Allows a country to have a greater variety of products at a lower cost than if it tried to produce everything at home.
• D) Allows a country to avoid trade-offs.

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Definitions:

Introductory Subscription

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Median

An average of a group of values, computed by arranging the numbers in numerical order and finding the middle number.

Frequency Distribution

A statistical analysis showing the values of a variable and how often they occur.

Data Set

An assembly of interconnected information sets, comprising distinct elements, yet collectively manageable as a single entity by a computer.