The ratio at which a country can trade its exports for imports from other countries is called
A) a trade barrier.
B) the terms of trade.
C) autarky.
D) a free trade agreement.
Answer: B
Economics
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Extensive agricultural cultivation from 1870 to 1910, as described by Hughes and Cain (2011), meant that
(a) there could be no increase in agricultural output per man hour. (b) the percentage increase in acreage under cultivation and the percentage increase in agricultural output was roughly the same. (c) the proportion of the labor force in agriculture steadily increased. (d) all of the above were true.
Economics
The prosperity of a nation today is typically measured by its: a. total output or gross national product
b. real output per capita. c. gold reserves. d. proportionate share of international trade.
Economics