The Increase in Welfare, in Both Countries' Experience, as a Result

question 42

Multiple Choice

The increase in welfare, in both countries' experience, as a result of specialization and trade is called:

• A)surplus enhancement.
• B)exportation surplus.
• C)gains from trade.
• D)deadweight gain.

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Definitions:

Processing

The act of handling or manipulating data, transactions, or physical items in a prescribed manner.

Financial Electronic Data Interchange

A system that allows the transfer of financial information between organizations in a standardized electronic format.

Direct Deposit

An electronic payment method where funds are transferred directly into the recipient's bank account, bypassing the need for physical checks.

Automatic Withdrawal

A banking process where funds are automatically taken from a bank account to fulfill a financial commitment.