International trade has the potential to
A. increase the availability of goods and services to those nations that export more than they import.
B. increase the availability of goods and services to those nations that have an absolute advantage in the production of a good or service.
C. increase the availability of goods and services to all nations.
D. decrease the availability of goods and services to all nations.
Ans: C. increase the availability of goods and services to all nations.
You might also like to view...
If the United States imports goods and services for a total of $45 billion, exports goods and services for a total of $40 billion, records $4 billion as net interest and zero as net transfers, then the U.S. current account balance is
A) $1 billion. B) -$1 billion. C) $89 billion. D) zero. E) $81 billion.
People expect that the El Niño effect will cause drought in Australia in coming years. If most Australian firms expect their profits will fall during the next five years, Australia's ________ this year
A) aggregate demand will increase B) long-run aggregate supply will increase C) aggregate demand will decrease D) short-run aggregate supply will increase