The Expression "Gains from Trade" Refers To

question 146

Multiple Choice

The expression "gains from trade" refers to:

• A) the net benefits a country receives from trade.
• B) a nation's surplus of exports over imports.
• C) a nation's balance of trade.
• D) the benefits a country receives from quota protection.

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Definitions:

Y Axis

The vertical line on a graph or chart, which typically represents the range of values for a variable being measured.

Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity of the good that suppliers are willing and able to sell, typically sloping upward.

Cotton Crop

Cotton crop refers to the cultivation of cotton plants for the harvesting of cotton fibers, which are used in the textile industry.

Pesticides Resistant

The ability of pests to withstand or overcome the effects of pesticides due to genetic mutations or adaptations, leading to a decrease in the effectiveness of the pesticides.