Which of the Following Explains Why Trade Has Increased Worldwide

question 70

Multiple Choice

Which of the following explains why trade has increased worldwide, particularly since the early 1970s?

• A) the reduction in shipping and production costs
• B) an increase in trade barriers
• C) falling global incomes
• D) All of these answers are correct.
• E) None of these answers are correct.

Calculate the z-score for a given raw score in a normal distribution.

Understand the implications of changes in mean and standard deviation on the distribution.

Determine the percentage of scores within a specified range of z-scores.

Understand the various approaches to employee development and their applications.

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Definitions:

Equilibrium Price

The price at which the quantity of a good or service demanded by consumers is equal to the quantity supplied by producers, leading to market balance.

Velcro

A fastening device consisting of two strips of fabric, one covered with tiny hooks and the other with a dense pile, which adhere when pressed together.

Upward-Sloping Supply

A graphical representation indicating that as the price of a good increases, the quantity supplied also increases, assuming other factors remain constant.

Decrease in Demand

occurs when consumers are less willing to purchase a product or service at all price levels, often visualized as a leftward shift of the demand curve.