As a General Rule,free Trade

question 102

Multiple Choice

As a general rule,free trade:

• A) acts to equalize the supply of and demand for factors of production across countries.
• B) causes factor prices to converge across countries.
• C) increases the supply of factors that are domestically scarce.
• D) All of these are true.

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Definitions:

Misrepresentations

False or misleading statements that may lead someone to enter into a contract or make a decision under false beliefs, potentially with legal consequences.

Actual And Apparent Authority

Actual authority refers to the power a principal intentionally gives to an agent to act on the principal's behalf, while apparent authority exists when the principal's actions lead a third party to believe that an agent has certain powers, even if such powers have not been explicitly granted.

Zircon

A mineral belonging to the group of nesosilicates, often used in jewelry as a diamond simulant and in various industrial applications.

Liability

The legal obligation to answer for one's actions, chiefly in matters concerning debts or legal responsibilities.