Goods produced abroad and sold domestically are called a exp

Goods produced abroad and sold domestically are called

a. exports.

b. imports.

c. exchange rates.

d. opportunity costs.

2.     The field of political economy

a. applies the methods of political science to microeconomics.

b. applies the methods of political science to macroeconomics.

c. is relevant to the issue of how active government should be in economic matters.

d. integrates psychological insights to better understand individual choices.

Solution

1) ans is B. When Something is brought out from foreign then it is known as import.i.e. Imports that are produced abroad and consumed domestically.

2)ans is C

Field of political ecobomy is how govt. Affects the economy.