The Basic Proposition in International Trade Is That

question 268

Multiple Choice

The basic proposition in international trade is that

• A) trade is determined by absolute advantage.
• B) in the long run, imports are paid for by exports.
• C) everyone is made better off by free trade.
• D) fair trade is more important than free trade.

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Definitions:

Neural Tube

An embryonic structure that later develops into the brain and spinal cord.

Fetus's Bones

The developing skeletal structure within the fetus, which begins as cartilage and undergoes ossification to become bone by birth.

Tactile Contact

Physical touch or the act of coming into contact with something through the skin.

Conception

The process in which a sperm cell fertilizes an ova, or egg cell, leading to the formation of an embryo.