A majority of the total world merchandise trade occurs among ________.
A) middle-income and low-income economies
B) high-income economies
C) newly industrialized countries
D) emerging markets
Question 2
The importance of trade for a nation can be measured by ________.
A) examining the amount of wealth acquired by the national government through restrictive trade policies
B) the living standards of people involved in only trade activities
C) the number of acquired territories the nation has that serves as sources of inexpensive raw materials
D) examining the volume of its trade relative to its total output
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