With the benefits of international trade:

With the benefits of international trade:
a. there can be increased consumption for all.
b. global production will be increased.
c. world resources will be used more efficiently.
d. all of these are true.

QUESTION 2

The real interest rate is the annual percentage amount of money that is earned on a sum loaned or deposited in a bank.
a. True
b. False
Indicate whether the statement is true or false

QUESTION 3

International trade has the potential to ____ the availability of goods and services to ____.
a. increase; those nations who export more than they import
b. increase; nations that have an absolute advantage in the production of a good or service
c. increase; all nations
d. decrease; all nations

QUESTION 4

Suppose George's income is 10,000 and he pays a tax of 1,000 . but Laura's income is 50,000 and she pays a tax of 4,000 . Such a tax is:
a. regressive.
b. progressive.
c. proportional.
d. flat.

QUESTION 5

The real interest rate can be negative.
a. True
b. False
Indicate whether the statement is true or false

QUESTION 6

Specialization and trade allow an economy to expand its:
a. production possibilities. b. consumption possibilities.
c. technological advantage. d. absolute advantage.

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With the benefits of international trade:

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