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Unit 1

Authored by Anh Nhật

English

University

Unit 1
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24 questions

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1.

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1 min • 1 pt

The purchase, sale, or exchange of goods and services across national borders is called

2.

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1 min • 1 pt

A trade theory which holds that a government can improve the economic well-being of the country by encouraging exports and stifling imports to accumulate wealth in the form of precious metals

3.

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1 min • 1 pt

_____________ is the condition that results when the value of a nation's exports is greater than the value of imports.

4.

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1 min • 1 pt

A condition that results when the value of a country's imports is greater than the value of its exports is called_____________.

5.

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1 min • 1 pt

Sending goods to another country for sale or trade is called a_____________.

6.

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1 min • 1 pt

A trade theory which holds that nations can increase their economic well-being by specialising in goods that they can produce more efficiently than anyone else is called_____________.

7.

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1 min • 1 pt

Bringing in goods from another country for sale or trade is called_____________.

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