Which Is the Most Accurate Statement About Trade

question 112

Multiple Choice

Which is the most accurate statement about trade?

• A) trade makes some nations better off and others worse off
• B) trade can make every nation better off
• C) trading for a good can make a nation better off only if the nation cannot produce that good
• D) trade helps rich nations and hurts poor nations

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Definitions:

Oral Modifications

Changes to a contract or agreement made through spoken communication between the parties involved, rather than in written form.

Parol Evidence Rule

A rule in contracts law that prevents parties from presenting extrinsic evidence of terms of the contract that contradict, modify, or vary contractual terms written in the contract document.

Oral Evidence

Testimony or statements spoken out loud in court as opposed to written evidence.

Statute of Frauds

A legal principle requiring certain types of contracts to be in writing to be enforceable.