In the Modern Era,countertrade Arose in the 1960s as a Way

question 86

Multiple Choice

In the modern era,countertrade arose in the 1960s as a way to purchase imports for

• A)the United States.
• B)the Soviet Union.
• C)Germany.
• D)Japan.
• E)Africa.

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Definitions:

Output

The total amount of goods or services produced by a firm, industry, or economy.

Cost

The total expenditure required to produce a good or service, including materials, labor, and other expenses.

Units

Units refer to the basic measure or quantity of a product, service, or the fundamental quantity used in measurement.

Labor

The effort by humans directed towards producing goods and services; in economics, it's considered one of the primary factors of production alongside land and capital.