The Simultaneous Export and Import of Widgets by the United

question 38

Multiple Choice

The simultaneous export and import of widgets by the United States is an example of

• A) intra-industry trade.
• B) increasing returns to scale.
• C) imperfect competition.
• D) inter-industry trade.
• E) the effect of a monopoly on international trade.

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Definitions:

Compound

A substance made from two or more elements chemically bonded together.

Atomic

Pertaining to the smallest component of an element that maintains the chemical properties of that element.

Truth-functional Compound

A compound statement whose truth value is determined by the truth values of its constituent statements through specific logical operations.

Quantifier

A logical operator that specifies the quantity of specimens in the domain of discourse that satisfies an open formula.