Trade Is a Source of Economic Growth and Prosperity Because

question 113

Multiple Choice

Trade is a source of economic growth and prosperity because it

• A)moves goods,services,and resources from people who value them less to people who value them more.
• B)helps trading partners achieve larger outputs through division of labor,specialization,and adoption of methods of mass production.
• C)serves as a zero-sum game in which the gains to one trading partner are offset by losses to the other trading partner.
• D)both a and b,but not c.

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Definitions:

US$

The US dollar, symbolized as USD, is the official currency of the United States of America and used as a benchmark in the global economy.

Strengthens

In financial terms, it often refers to the appreciation or increase in value of an asset or currency.

C$

Emblem denoting the Canadian Dollar, Canada's official currency.

Euro

The accepted form of money in the eurozone, made up of 19 out of the 27 member states of the European Union.