Exports from and Imports to the U

question 30

Multiple Choice

Exports from and imports to the U.S.were important to growth in the U.S.between 1790 and 1860 because

• A) exports to other countries expanded the market base for U.S. manufacturing goods.
• B) they supported the U.S. economy during a time in which it used more agricultural goods ?and crude materials than it produced.
• C) they helped the U.S. and its trading partners gain wealth through international trade of those goods and services in which each produced at a comparative advantage.
• D) they contributed to all of the above.

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Definitions:

Loss Aversion

Loss aversion refers to people's tendency to prefer avoiding losses rather than acquiring equivalent gains: it is better to not lose $5 than to find $5.

Negative Impact

Adverse effects or damages caused by an action or event.

Positive Impact

The beneficial effects or outcomes resulting from an action, policy, or behavior.

Searching For Analogies

The cognitive process of finding relationships or similarities between different concepts or situations.