The Importance of Trade for a Nation Can Be Measured

question 91

Multiple Choice

The importance of trade for a nation can be measured by ________.

• A) examining the amount of wealth acquired by the national government through restrictive trade policies
• B) the living standards of people involved in only trade activities
• C) the number of acquired territories the nation has that serves as sources of inexpensive raw materials
• D) examining the volume of its trade relative to its total output

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Definitions:

Political Instability

A situation where a government, due to various factors such as conflict, corruption, or ineffective governance, faces challenges in maintaining control or authority.

Frictional Unemployment

A form of unemployment that occurs when people are in between jobs or are entering the workforce for the first time, often due to voluntary decisions.

Brain Drain

The emigration of highly skilled or educated individuals from a particular country or region to another, often for better opportunities.

Remittances

Money sent back home by migrants to their family or others in their country of origin, contributing significantly to the economy of the receiving country.