Asked by
Stephen Gbedemah
on Dec 12, 2024Verified
International trade does all the following except
A) allow a country to specialize in producing certain goods and services.
B) reduce world output.
C) allow a country to move to higher consumption levels.
D) increase world output.
International Trade
The exchange of goods and services between countries, driven by comparative advantages and resulting in increased economic efficiency and wealth.
World Output
The total production of goods and services by all countries in the world over a specified period.
Consumption Levels
The quantity of goods and services that individuals or communities use or consume.
- Evaluate the implications of trade agreements and policies on domestic and international markets.
Verified Answer
LA
Learning Objectives
- Evaluate the implications of trade agreements and policies on domestic and international markets.