As Nations Trade, Their Total Level of Utility (Satisfaction from Consuming

question 55

Multiple Choice

As nations trade, their total level of utility (satisfaction from consuming goods) :

• A) equalizes.
• B) levels out.
• C) decreases.
• D) increases.

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Definitions:

Legitimizes capitalism

The process or argument by which capitalism is defended or justified as the preferable economic system, often in relation to its ability to promote economic growth and freedom.

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The ability of a single entity to control or dominate a market, setting prices and limiting competition.

French law

refers to the legal system established in France, which includes civil law traditions, statutory laws, and regulations governing various aspects of life and business in the country.

Industry level agreements

Collective bargaining agreements negotiated at the industry or sector level, affecting all workers and employers within that industry.