If an Economist Develops a Theory About International Trade Based

question 165

Multiple Choice

If an economist develops a theory about international trade based on the assumption that there are only two countries and two goods, what is most likely?

• A) The theory can be useful only in situations involving two countries and two goods.
• B) It is a total waste of time, since the actual world has many countries trading many goods.
• C) The theory can be useful in helping economists understand the complex world of international trade involving many countries and many goods.
• D) The theory can be useful in the classroom but has no use in the real world.

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Definitions:

Jury Charge

The instructions given by a judge to the jury regarding the laws pertinent to the case they must consider in making their decision.

Closing Arguments

The final statements made by attorneys in a trial to summarize the case and persuade the jury or judge to support their position.

Closing Argument

The argument made by each side’s attorney after the cases for the plaintiff and defendant have been presented. Closing arguments are made prior to the jury charges.

Plaintiff

The party who initiates a lawsuit in civil court, claiming to have incurred loss or damage due to the defendant's actions.