Trade Between Countries in Goods from Different Industries Is Called

question 153

Multiple Choice

Trade between countries in goods from different industries is called

• A)free trade.
• B)intraindustry trade.
• C)interindustry trade.
• D)the gains from trade.
• E)competitive trade.

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Definitions:

Economy

A broad term that encompasses the production, distribution, and consumption of goods and services within a certain region or country.

National Labor Relations Board

The National Labor Relations Board is a federal agency tasked with enforcing labor laws in relation to collective bargaining and unfair labor practices.

Unionize

The process by which employees come together to form a union in order to collectively bargain for better wages, working conditions, and benefits.

Efficiency Wages

Efficiency wages are above-market wages paid by firms to increase worker productivity.