Which of the Following Statements About the General Pattern of Trade

question 36

Multiple Choice

Which of the following statements about the general pattern of trade is true?

• A) World trade has decreased over the past 100 years as a greater number of countries have sought protec­tionist strategies to protect their labor markets.
• B) World trade has increased over the past 100 years due to growing economic interdependence.
• C) World trade has leveled off over the past 100 years as a greater number of countries have begun to focus on domestic specialization.
• D) World trade has fluctuated significantly over the past 100 years because it is closely linked to international politics.

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Definitions:

Illegal Agreement

A contract or arrangement that is forbidden by law because it involves actions or terms that violate legal statutes.

Competing Business

A company that offers similar products or services as another business within the same market or industry.

Reformation

The legal process of modifying a contract or document to accurately reflect the true intentions of the parties involved.

Quasi Contract

An obligation imposed by law to prevent unjust enrichment, even though no actual contract exists between the parties involved.