When Trade Is Free, Patterns of Trade and Trade Flows

question 231

Multiple Choice

When trade is free, patterns of trade and trade flows result from

• A) the collective decisions of a few importers and exporters, as well as the governments of the countries in which they reside.
• B) the collective decisions of a few importers and exporters, as well as millions of private households and firms.
• C) the independent decisions of thousands of importers and exporters, as well as millions of private households and firms.
• D) the independent decisions of thousands of importers and exporters, as well as the governments of the countries in which they reside.

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Definitions:

Oxygenated Blood

Blood that is rich in oxygen and is carried from the lungs to the heart and then distributed to the rest of the body.

Hepatic Portal Veins

A vein that carries blood from the gastrointestinal tract and spleen to the liver, transporting nutrients and toxins to the liver for processing.

Superior Mesenteric Vein

A large vein that drains blood from the small intestine, ascending colon, and part of the transverse colon into the portal vein.

Amino Acids

Organic compounds that combine to form proteins, acting as the building blocks of life.