Examlex
Which of the following elements reduces structural unemployment?
Gains From Trade
The benefit that economies and individuals receive from the voluntary exchange of goods and services beyond what they could produce themselves.
Tariff Revenue
Tariff Revenue is the income generated from duties imposed by a government on imported goods, which is often used as a tool for economic policy.
International Specialization
The economic strategy of a country focusing its resources on producing goods and services it can produce most efficiently for exchange with others.
World Price
The international market price of a good or service, influenced by global supply and demand.
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