Which of the following is true of international trade?
A) International trade reduces the total surplus enjoyed by an economy.
B) International trade benefits all participants equally.
C) International trade in services is not allowed.
D) International trade increases overall economic efficiency.
D
You might also like to view...
During the Iraq War, the U.S. government continued to borrow funds and yet the interest rate was steady or slightly declined. What could explain this?
A) The U.S. crowded out private saving. B) The U.S. crowded out private borrowing. C) The supply of loanable funds increased by a greater proportion than demand increased. D) The supply of loanable funds increased by a smaller proportion than demand increased.
In China, firms owned by the government are known as
A) state-owned enterprises (SOEs). B) government enterprises. C) corporations. D) government owned partnerships.