The terms of trade refers to Group of answer choices the conditions imposed by the importing country regarding the quality of the imported goods. the ratio at which one country trades a domestic product for imported product. the exchange rate determined by the exporting and the importing countries. the documents that two countries sign in order to facilitate trade.

Which of the following is TRUE regarding trade and wages?     Countries with low productivity levels will always have lower wages than high-productivity nations whether they trade or not.   Trade can increase wages by increasing the productivity of labor.   Trade directly increases productivity, which in turn increases wages.   Trade helps to equalize wages between high- and low-productivity countries.

A small country imports T-shirts. With free trade at a world price of $10, domestic production is 10 million T-shirts and domestic consumption is 42 million T-shirts. The country's government now decides to impose a quota to limit T-shirt imports to 20 million per year. With the import quota in place, the domestic price rises to $12 per T- shirt and domestic production rises to 15 million T-shirts per year. The quota on T- shirts causes domestic consumers to A) gain $7 million. B) lose $7 million. C) lose $70 million. D) lose $77 million

Should higher safety standards be imposed on imported goods that exists in country where the goods were produced

What is the goal of the Free Trade Agreement?     To have free trade all over the world     To abolish all tariffs between member countries     To only trade with politically free countries     None of the above

Since the end of World War II, a) world trade has grown more rapidly than world output. b) world trade has grown more slowly than world GDP in the same time period. c) the trade-to-GDP ratios of most countries have fallen. d) world trade has grown more slowly than during the years leading up to World War II.