Rich Maes Contracts to Deliver Bison Meats to David in Spain

question 62

Multiple Choice

Rich Maes contracts to deliver bison meats to David in Spain on a destination international commercial term.However,while five (5) days out in the Atlantic Ocean,the ship carrying the bison meats sinks due to extreme storm.Under the destination designation the risk of loss is with:

• A) seller
• B) buyer
• C) carrier
• D) ship manufacturer

Identify the arguments for and against trade restrictions.

Determine the outcome of allowing trade on a country's export and import statuses.

Understand the concept of comparative advantage and how it affects trade decisions.

Analyze the effects of trade on producer and consumer surplus.

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Definitions:

Deflation

A decrease in the general price level of goods and services, often characterized by the increase in the value of money.

Disinflation

Disinflation is the process of slowing down the rate of inflation, indicating a reduction in the speed at which the general level of prices for goods and services is rising.

Wage-Price Spiral

A macroeconomic concept describing a situation where rising wages lead to increased prices, which in turn lead to demands for higher wages, thus perpetuating inflation.

Consumer Price Index

A calculation that evaluates the weighted mean prices of a group of consumer items and services, including healthcare, food, and transport, for assessing inflation.