Homework Help: Literacy

Posted by Heather on Sunday, January 22, 2012 at 12:10am.

6.The idea that countries should produce and sell goods that they produce most effectively
and efficiently, and buy goods that other countries produce most effectively and efficiently,
is known as
A. absolute advantage theory. C. efficiency balanced trade.
B. free trade. D. comparative advantage theory.

my answer are :

6:C
7:B
8: B or D but i think its B

7. These days, the leading commercial firms are found in the _______ sector.
A. manufacturing C. service
B. agricultural D. government

8. In global trade, when the difference between money coming into a country from exports
and money leaving a country due to imports or money flows from other factors is
known as the
A. balance of payments. C. balance of trade.
B. trade offset. D. trade deficit.

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