The Expression "Gains from Trade" Refers To

question 146

Multiple Choice

The expression "gains from trade" refers to:

• A) the net benefits a country receives from trade.
• B) a nation's surplus of exports over imports.
• C) a nation's balance of trade.
• D) the benefits a country receives from quota protection.

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Definitions:

Creative Deviance

The act of intentionally deviating from norms to produce novel and useful ideas or products.

Idea Generation

The process of creating, developing, and communicating new thoughts or concepts.

Diffusion

The process through which new ideas, practices, or products spread within a society or from one society to another.

Tolerate Uncertainty

The ability to remain calm and maintain performance despite ambiguity or lack of information about future events.