A group of nations that grants member special trade privileges is
A) World Trade Organization.
B) European Union.
C) General Agreement on Tariffs and Trade.
D) North American Free Trade Agreement.
Answer: A
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One of the series included among the lagging indicators is
A) the change in sensitive material prices. B) the index of industrial production. C) employees on non-agricultural payrolls. D) average duration of unemployment.
Differences in human capital are usually large and easily observable
Indicate whether the statement is true or false
Which of the following statements describes the long-run effects of global outsourcing?
A) Wages for U.S. workers will decrease but wages in other countries will increase. B) Wages in all countries will remain the same as before the outsourcing. C) Wages and employment will increase globally. D) Wages will increase globally and employment will stay the same.
The starting point of many methods for predicting equilibrium strategy in sequential games is
a. designing proactive reactions to rival actions b. information sets c. uncertain outcomes d. backwards induction based on an explicit order of play e. endgame analysis