The ratio at which a country can trade its exports for imports from other countries is called
A) a trade barrier.
B) the terms of trade.
C) autarky.
D) a free trade agreement.
Answer: B
You might also like to view...
The rate at which one currency can be traded for another is called the
A) terms of trade. B) exchange rate. C) transfer rate. D) coupon rate.
The equilibrium level of income and output is that level of income where the desired spending by all sectors of the economy equals the value of output produced and the income received from production
Indicate whether the statement is true or false
Among these countries, which has the highest hourly wage and fringe benefits in manufacturing?
A. Germany B. Japan C. The U.S. D. Canada
Refer to the graph shown. If this monopolist were allowed to choose the profit-maximizing level of output, it would produce:
A. 400 units of output. B. 800 units of output. C. 500 units of output. D. 300 units of output.