Which of the Following Is a Benefit Associated with Free

question 29

Multiple Choice

Which of the following is a benefit associated with free trade and globalization?

• A) a closed economy
• B) increased per capita income
• C) declining productivity
• D) an increase in the number of better-paying jobs

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Definitions:

Gross Domestic Product

The total monetary value of all goods and services produced within a country's borders in a specific time period, commonly used as a measure of economic performance.

Depreciated Currency

A decrease in the value of a currency in relation to foreign currencies, often due to economic factors or government policy.

Market-based Economy

An economic system where decisions regarding investment, production, and distribution are based on supply and demand, and prices of goods and services are determined in a free price system.

Mercantilist Economy

An economic theory and practice dominant in modern Europe, advocating for governmental regulation of a nation's economy to augment state power at the expense of rival national powers.