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Embargo- Ban on tradeTariff- Ban on goods imported into the US
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- Which of the following presents the correct picture of the outcome of increased world trade after the 1950s, contrary to Servan-Schreiber's prediction? A. Third World countries have been excluded from this economic growth leading to stark imbalances in wealth.B. The European Union has become the center of world trade, taking the position away from the United States.C. The United States has continuously maintained the positive balance of trade it attained during the 1950s.D. Economic power and potential has become more evenly distributed among the countries of the world.E. SDRs and gold have lost their utility as the basic medium of financial exchange and most monetary statistics have started relating to the U.S. dollar.
- I. Two countries produce the same goods for the same opportunity costII. Two countries produce different goods for different opportunity costsIII. Two countries are isolated by geography and politicsIV. Two countries have the same identical markets What fact or facts support a situation where trade is disadvantageous?(D)