What other economic process needs to accompany international trade, for nations to benefit from such trade?
A. Nationalization of industries
B. Regulation of production and trade
C. Spreading of resources to more industries
D. Specialization in production
Answer: D
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If the expansion of a country's exports leads to growth in non-export industries this is called a(n)
A) secondary effect. B) linkage effect. C) elementary effect. D) None of the above.
Economic variables that generally turn down after a recession begins and turn back up after the recovery starts are called:
A) leading indicators. B) coincident indicators. C) lagging indicators. D) none of the above.
Activities designed to convert resources into goods and services is known as
A) supply. B) consumption. C) production. D) scarcity.
The three-month Treasury bill rate is the
A. interest rate used by commercial banks to loan to other commercial banks. B. most widely followed short-term interest rate. C. same as the prime rate. D. interest rate the Fed charges commercial banks for borrowing.