A Fall in the Price of Imports or a Rise

question 85

Multiple Choice

A fall in the price of imports or a rise in the price of exports will:

• A) Improve the terms of trade
• B) Worsen the terms of trade
• C) Expand the production possibilities curve
• D) Contract the production possibilities curve

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Definitions:

Jeff Bezos

Founder of Amazon.com, an entrepreneur known for transforming online shopping and investments in space technology through his company Blue Origin.

Experimentation

The process of trying out new ideas, methods, or activities to discover what works best in a specific context.

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Small Failures

Minor setbacks or mistakes that, while not catastrophic, can provide valuable learning experiences and opportunities for growth and improvement.