New Trade Theory Postulates That Trade Is Explained and Predicted

question 22

Multiple Choice

New trade theory postulates that trade is explained and predicted by all except

• A) economy of scale.
• B) increasing returns.
• C) inter/intra industry trade.
• D) consumer preferences.

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Definitions:

Impeach

The process by which a public official is charged with misconduct or wrongdoing, potentially leading to their removal from office.

State of Nature

A concept in political philosophy used to describe the hypothetical conditions of human life before the establishment of society or government.

Thomas Hobbes

A 17th-century English philosopher best known for his work in political philosophy, particularly his book "Leviathan," which established the foundation for most of Western political philosophy.

Judicial Review

The power of courts to assess the constitutionality of laws and government actions and to overturn those that are found unconstitutional.