Statement I: Much of Our Trade Problem May Be Blamed

question 146

Multiple Choice

Statement I: Much of our trade problem may be blamed on the Japanese who take advantage of our relatively open markets,while denying access to their own.
Statement II: The Japanese have been running huge bilateral trade surpluses in manufactured goods with nearly all their trading partners.

• A)Statement I is true and statement II is false.
• B)Statement II is true and statement I is false.
• C)Both statements are true.
• D)Both statements are false.

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Definitions:

Age Of Majority

The legally recognized age at which an individual is considered an adult and capable of making decisions and entering into contracts without parental consent.

Reasonable Period

Refers to a time frame that is considered fair and appropriate under the circumstances to perform a certain task or fulfill an obligation.

Disaffirm Contracts

The legal ability of one party, often a minor or someone not fully competent, to declare a contract void and release themselves from any contractual obligations.

Necessaries

Goods or services that are essential for maintaining a person's health, education, comfort, or welfare.