If Prices of a Nation's Exported Products Rise in Comparison

question 48

Multiple Choice

If prices of a nation's exported products rise in comparison to prices paid
For imports, that nation experiences a:

• A)rise in its international terms of trade.
• B)decline in its international terms of trade.
• C)reduction in its imports.
• D)reduction in its exports.

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Definitions:

Interstate Commerce

Commercial transactions or traffic that cross state boundaries, regulated by the federal government in the United States.

Federal Law

The body of law created by the federal government of a country, which applies to all its citizens and territories.

Constitutional Law

The general limits and powers of a government as interpreted from its written constitution.

Common Law

A legal framework that relies on court rulings and past case decisions instead of laws passed by legislation.