Trade Between Two Countries Can Benefit Both Countries If

question 15

Multiple Choice

Trade between two countries can benefit both countries if

• A) each country exports that good in which it has a comparative advantage.
• B) each country enjoys superior terms of trade.
• C) each country has a more elastic demand for the imported goods.
• D) each country has a more elastic supply for the exported goods.
• E) each country produces a wide range of goods for export.

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Definitions:

Tenure

The period or duration a person holds a particular status, position, or occupation, often used in the context of employment or property ownership.

Adjunct

An accessory, something added to another thing but not essential to it, often used in academia to describe a type of part-time instructor.

Car Colour

The hue or shade of paint applied to the exterior of an automobile, influencing its appearance.

Independent

Two events are independent if the occurrence of one does not affect the probability of the occurrence of the other.