The Trade Theory That Nations Should Accumulate Financial Wealth, Usually

question 33

Multiple Choice

The trade theory that nations should accumulate financial wealth, usually in the form of gold, by encouraging exports and discouraging imports is called ________.

• A) absolute advantage
• B) mercantilism
• C) comparative advantage
• D) factor proportions theory

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Definitions:

School Absenteeism

The habitual non-attendance of a student at school without valid reason, which can impact educational outcomes.

Cultural Deficit Model

The belief that cultural values, as transmitted through the family, are dysfunctional and the cause of poverty and lack of education.

Generational Poverty

Being in poverty for at least two generations.

Misconception

A belief or idea that is incorrect based on a misunderstanding of facts or concepts.