Which of the following statements most accuratELY describes the global perspective on world trade?
A)Exports are of significantly greater importance than imports.
B)Imports are of significantly greater importance than exports.
C)Imports and exports should be complementary economic flows: a country's imports affect its exports and exports affect its imports.
D)Exports and imports should always be kept in a state of equilibrium.
E)Imports and exports should be controlled through extensive use of international tariffs,quotas,and other and trade regulations.

Question

Quizplus · Accepted Answer

The global perspective on world trade is that imports and exports should be complementary economic flows. This means that a country's imports will affect its exports and vice versa. It is not accurate to say that exports are of significantly greater importance than imports or that imports are of significantly greater importance than exports. It is also not accurate to say that exports and imports should always be kept in a state of equilibrium or that extensive use of international tariffs, quotas, and other trade regulations should be used to control imports and exports.

Which of the Following Statements Most AccuratELY Describes the Global