Mercantilists,both Ancient and Modern,believe That a Country's Gains from Trade

question 118

Multiple Choice

Mercantilists,both ancient and modern,believe that a country's gains from trade arise primarily from having

• A)a trade deficit.
• B)comparative advantage in the production of products in which their opportunity costs are low.
• C)exports equal imports.
• D)imports exceed exports.
• E)exports exceed imports.

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Definitions:

Addison Disease

A disorder characterized by insufficient production of corticosteroid hormones by the adrenal glands, leading to fatigue, muscle weakness, and changes in skin pigmentation.

Pregnancy

The condition of having a developing embryo or fetus in the body, resulting from the fertilization of an egg by a sperm.

Stratum Basale

The deepest layer of the epidermis, consisting of a single row of cells primarily responsible for generating new skin cells.

Stratum Corneum

Most superficial layer of the epidermis consisting of flat, keratinized, dead cells.