"International trade" refers to:
A. purchasing or selling currently produced goods or services across an international border.
B. any transaction across an international border.
C. any financial transaction across an international border.
D. buying or selling of preexisting assets across an international border.
A. purchasing or selling currently produced goods or services across an international border.
You might also like to view...
People behave rationally when they
A) follow the advice of government leaders. B) never have regrets about their decisions. C) make decisions they think will make themselves better off. D) make decisions solely based on financial outcomes.
Answer the following question on the basis of the data given for two regions, East and West, of a hypothetical world. The nations have the production possibilities for units of food and clothing given below.
Refer to the data above. The mutually beneficial terms of trade will be:
A. Greater than 4 units of food for 1 unit of clothing
B. Between 4 and 5 units of food for 1 unit of clothing
C. Between 2 and 3 units of food for 1 unit of clothing
D. Less than 2 units of food for 1 unit of clothing