Why is the U.S. putting less emphasis on multilateral and more emphasis on bilateral trade agreements?
What will be an ideal response?
Tariffs low, quotas mostly eliminated; Cold War is over; remaining trade issues are tough;, more participants makes multilateral negotiations difficult; bilateral can be testing ground for new arrangements
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Why is a dollar today more valuable than a dollar a year from now?
A) The unknown future is riskier than the known present. B) The dollar today can be immediately used to buy something. C) A dollar a year from now will likely have less purchasing power because of inflation. D) all of the above
Researchers estimate QALYs in a number of different ways. One popular approach is called
a. the probability approach b. the QoL approach c. the standard gamble d. the standard measure of well-being e. the utility of life approach
The country of Zorabia witnesses a huge influx of unskilled illegal immigrants. Which of the following will occur?
a. The equilibrium wage rate in Zorabia will fall. b. The equilibrium wage rate in the market for unskilled labor in Zorabia will fall. c. There will be excess demand for labor in the market for unskilled labor in Zorabia. d. There will be excess supply of labor in the job market for skilled workers.
The concept of absolute poverty states that anyone who falls too far behind the average income should be considered poor.
Answer the following statement true (T) or false (F)