After the U.S. government had approved the feeding of hormones to U.S. beef cattle, several western European nations restricted the import of beef from the U.S. Which of the following tools of commercial policy had been put to use in this situation?
a. Tariff
b. Quota
c. Health and safety standards
d. Subsidy
e. Government procurement
c
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Use the following production possibilities frontiers to answer the next question.
Curve (a) is the current frontier for the economy. Focusing on curve (a), point N suggests that the economy currently produces
A. less goods for the future than at point P. B. more goods for the future than at point P. C. less goods for the present than at point P. D. a combination of output that is less than its potential.
A real appreciation of the dollar is caused by either a nominal appreciation of the dollar, a rise in the foreign price level, or a fall in the U.S. price level
Indicate whether the statement is true or false
Describe an arms race in economic terms. Is it rational for countries to participate in an arms race?
What will be an ideal response?
The international organization with the sole goal of promoting global antipoverty efforts is the
A) World Bank. B) International Monetary Fund. C) Board of Governors of the Federal Reserve System. D) GAE.