Exports from and imports to the U.S. were important to growth in the U.S. between 1790 and 1860 because
(a) exports to other countries expanded the market base for U.S. manufacturing goods.
(b) they supported the U.S. economy during a time in which it used more agricultural goods
and crude materials than it produced.
(c) they helped the U.S. and its trading partners gain wealth through international trade of those goods and services in which each produced at a comparative advantage.
(d) they contributed to all of the above.
(c)
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Collectives in the Soviet Union were inefficient producers of agricultural products. Why?
(A) The farms were too small to produce substantial crops. (B) Most farmers were poor and ad to pay for their own equipment, seeds, and fertilizer out of their own pockets. (C) Soviet central planners ignored the farms in favor of factories producing consumer goods. (D) Farm workers had guaranteed incomes, so they had few incentives to produce more or better crops.
If a nation restricts trade with other nations, then the most likely effect is:
A. Lower prices of goods and services in the nation B. Increased specialization of production C. Expanded economic wealth of the nation D. Make consumers in the nation worse off