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  • When a country trades according to principles of comparative advantage. #421
  • _________________ Includes a wide variety of activities, other than advertising, publicity and personal selling. #422
  • ________________ is the term that reflects the interaction between the economic system and the political system. #423
  • In a representative _______, government officials are entrusted to take actions that are in the interests of their constituents. #424
  • ________________occurs when a person uses his leisure time to petition or inform government officials of his point of view. #425
  • Professional lobbying occurs when an individual or company is hired by someone to advocate a point of view before the _______________. #426
  • In a democratic society, governments are called on to take actions that are in the interests of their ______________. #427
  • Improvements in production efficiency mean that countries can ____________more goods and services with the same amount of resources. #428
  • In the presence of market imperfections or distortions, selected protection can often raise a country’s national ___________. #429
  • The theory shows that when private markets have market imperfections or distortions present, it is possible to add another distortion, such as a trade policy, and improve economic efficiency both domestically and worldwide. #430
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