Which of the Following Best Explains Why Export Growth Has

question 67

Multiple Choice

Which of the following best explains why export growth has outpaced the growth of domestic production during the last few decades?

• A) Both world exports and domestic production have grown significantly over the past 30 years.
• B) The cost to import products is generally higher than the cost to produce domestic products.
• C) Growth in gross domestic product in most countries has steadily increased since 1970.
• D) Advanced economies now source many of their consumable products from low-cost manufacturing nations.

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Definitions:

Contracts Valid

Agreements between parties that meet all legal requirements to be enforceable.

Collateral Promise

An ancillary agreement to answer for the debt or obligation of another person if that person fails to meet their obligation.

Principal Debtor's Debt

The main amount of money that a debtor is obligated to pay back, excluding interest or additional fees.

Oral

Relating to the spoken word or communication by mouth, as opposed to written or non-verbal means.