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What is the most common method of measuring flows of trade?
a. amount of physical items transported between countries
b. amount of manufactured items transported by truck
c. comparing annual amounts of good and services exchanged between countries
d. comparing exports of goods and services, and financial capital between countries

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Anne Gillian Duero
Anne Gillian DueroLv10
2 Nov 2020

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Related questions

The terms of trade between the two countries refer to:

a. The amount of good A given up for good B.

b. What price the two countries agree upon for their imports and exports.

c. The rules governing trade between the two countries.

d. The terms set by the World Trade Organization for trade.

Trade between countries:

(a) allows each country to consume at a point outside its own production possibilities frontier.

(b) limits a country’s ability to produce goods and services on its own.

(c) must benefit both countries equally; otherwise, trade is not mutually beneficial.

(d) can best be understood by examining the countries’ absolute advantages. 

what is a key factor that determines a firm's profitability?

A differentiation of a firm's product from other products

B factors affecting a firm's entire market

C a firm's average cost of production relative to that of competing firms

D chance events

E all of the above

economic theory suggests countries benefit from international trade by producing more of those good and services for which they have a comparative advantage (and less of that for which a country does not have a comparative advantage). However, countries rarely specialize completely, why?

even with international trade, countries rarely specialize completely because

A, all goods and services can be traded internationally

B, some countries would lose as a result of free trade

C, consumers in different countries have homogeneous tastes

D, some countries do not have an absolute advantege producing anything

E, production of most goods involves increasing opportunity costs.

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