Unilateral transfers are
A. transactions that take place across geographic boundaries but in which both participants are citizens of the same country.
B. gifts from residents of one country to foreign residents.
C. government transactions that involve reserves.
D. transactions that take place within the geographic boundaries of a country.
Answer: B
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Why does competition lead to lower prices for consumers?
A. Companies do not lower prices for consumers. B. Companies bid down each other to get your business. C. Companies bid against each other to get workers at minimum wage. D. Companies can find cheaper resources.
Specialization is another word for
A) pursuing one's comparative advantage. B) the division of labor. C) producing at a comparably lower opportunity cost. D) all of the above. E) none of the above.
A recession abroad would cause U.S. net exports to rise
a. True b. False Indicate whether the statement is true or false
Dumping is sometimes legal under international trade agreements.
Answer the following statement true (T) or false (F)