International specialization and trade
A) has to be done on a barter system.
B) often requires the exchange of currencies.
C) does not illustrate the division of labor.
D) requires active government regulation.

Question

Quizplus · Accepted Answer

International specialization and trade often involve exchanging currencies, as each country involved in trade will have their own currency. Bartering is rare in modern international trade, as it is much more complicated than using currency. International specialization and trade heavily rely on division of labor where each country focuses on producing goods that they have a comparative advantage in. While government regulation can impact international trade, it is not necessarily required.

International Specialization and Trade