Which of the following best expresses the benefit from international trade?
A) With trade, each country can concentrate on producing those goods and services that it produces most efficiently.
B) With trade, a country can increase its political involvement on a global scale.
C) Increased U.S.trade would improve high-tech exports but not agricultural exports.
D) Increased trade would increase U.S.exports and decrease U.S.imports.
E) Increased trade implies that exports of goods and services will always equal imports of goods and services.
Correct Answer:
Verified
Q5: The term autarky refers to
A)equilibrium after trade
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Q7: The two major trading partners of the
Q8: Exports amount to about 11 percent of
Q9: Which country is the United States' largest
Q11: Exports account for what percent of GDP
Q12: Most U.S.imports are
A)manufactured goods
B)agricultural services
C)petroleum and related
Q13: International trade increases world economic efficiency for
Q14: The United States exports more raw materials
Q15: In determining comparative advantage, cost is measured
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