International Trade Based on the Principle of Comparative Advantage Creates

question 220

True/False

International trade based on the principle of comparative advantage creates a more efficient allocation of world economic resources.

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Definitions:

Promissory Note

A written promise to pay a specified amount of money to a designated person at a specified date or on demand.

Electronic Components

Basic discrete devices or physical entities in an electronic system used to affect electrons or their associated fields.

Percent of Sales Method

A forecasting approach where future amounts are estimated as a fixed percentage of sales.

Bad Debts Expense

An expense account that represents accounts receivable that a company does not expect to collect.