International trade
A) accounts for more than 90 percent of world economic activity.
B) is a relatively small (about 30 percent of world output) but growing part of world economic activity.
C) has been growing at about the same rate as the world economy.
D) Both A and C.
Question 2
In which way are tariffs different from quotas?
A) They reduce the volume of imported products.
B) They raise the price of the imported products to consumers.
C) They increase the domestic quantity supplied of the product.
D) They raise government revenue.
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