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True / False Questions.(each 5P) a. Terms of trade is the relative price at which trade occurs between countries......... b. A country is capital abundant relative to another country if it has more

True / False Questions.(each 5P) a. Terms of trade is the relative price at which trade occurs between countries......... b. A country is capital abundant relative to another country if it has more workers per machine than the other country..... c. Tariff is a government mandated limitation on either the quantity or the value of trade in a product........ d. In a small country if government imposes an export tariff, the domestic price is less than world price...... e. EFTA is a free trade area between USA, Canada and Mexico..... f. Trade diversion is an expansion in world trade that results from the formation of a preferential trade arrangement.........

Apr 15 2021 View more View Less

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