Which of the Following Explains Why Trade Has Increased Worldwide

question 37

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 is correct.

Recognize different types of research methods (survey, archival).

Comprehend the limitations and strategies of research methods.

Distinguish between various research strategies and their appropriate applications.

Understand key anti-discrimination laws in the workplace, including their scope and who they protect.

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Definitions:

Money Flows

The movement of money between different sectors of the economy, including households, businesses, and governments, influencing economic activity.

Central Planning

An economic system where production, investment, prices, and incomes are determined centrally by a government.

Coordination Problem

A situation in economics where parties struggle to choose their actions optimally due to a lack of information about the other parties' plans or decisions.

Invisible Hand

A term coined by economist Adam Smith to describe the unintended social benefits resulting from individual actions when they pursue their own interests in a free market.