Question

Increased education and training within a nation will most likely result in A) a decrease in entrepreneurship. B) a decrease in Gross Domestic Product (GDP). C) an increase in Gross Domestic Product (GDP). D) an increase in the presence of natural resources.

International trade is the exchange of goods and services between countries. This sometimes involves the use of quotas. What is a quota?


A) a tax on an imported good

B) a payment to encourage trade

C) the refusal to export some goods

D) an amount that can legally be imported  Please help

Answer 1

I believe the correct response would be C. Increase in Gross Domestic Product. (GDP).

Answer 2

C) an increase in Gross Domestic Product (GDP).

Increased education and training in a nation will most likely result in an increase in GDP, as people will be more prepared to contribute to the economy. Moreover, when the population of a country is well-educated, innovation and entrepreneurship rises, and the economy shifts its focus from exports of natural resources to technological and industrial innovation.

D) an amount that can legally be imported.

A quota is a type of restriction on trade. Quotas are designed to set a limit on the quantity of a good that can be imported into a country in a given period of time. Quotas are meant to protect the producers in the country from foreign competition.