Question 3 (1 point) of European trade is intra-industry trade. of U.S. trade and As measured in 2014, about a) 3096; 30% b) 1096; 109% O c) 9096; 909% O d) 6096; 6096Question 4 (1 point) nations. The membership of the WTO includes about a) 15 O b) 1500 c) 150 ( d) 700Question 7" (1 point} _ means selling goods below their cost of production. |/\\| \\_/ 3} Import quotas |/\\| \\_/ b} Nontariff barriers |/\\| \\_/ C} Dumping |/\\| \\_/ d) Protectionism Question 8 (1 point) are ways that a nation can draw up regulations, inspections, and paperwork to make it more costly or difficult to import products. O a) Import ceilings b) Nontariff barriers O c) Tariffs O d) QuotasQuestion 10 {1 point] According to international trade theory, a country should: l/\\l \\_/ a} export goods in which it has an absolute advantage. x\". '\\_/I b} import goods in which it has a comparative disadvantage. Fa '\\_/' C} import goods in which it has an absolute advantage. /'\\ '\\_/' Cl) import goods in which it has an absolute disadvantage. Question 12 (1 point) When one nation can produce a product at lower cost relative to another nation, it is said to have a(n) in producing that product. a) production efficiency O b) economy of scale O c) relative advantage d) absolute advantageQuestion 15 {1 point} Tariffs are taxes imposed on |/\\| \\_/ a} exported products |/\\| \\_/ b} imported products |/\\| \\_/ C} hazardous goods |/\\| \\_/ d) surplus goods