What are the essential arguments in favor of free trade?
What will be an ideal response?
Proponents of an open trading system contend that international trade results in higher levels of consumption and investment, lower prices of commodities, and a wider range of product choices for consumers. Trade also enables workers to become more productive, and wages of workers whose skills are more scarce internationally tend to rise.
You might also like to view...
Which of the following is a major trading bloc?
A. GATT B. APEC C. GLOBE D. IMF E. WTO
Phipps Corporation overstated its ending inventory on December 31, Year 1. Which of the following correctly identifies the effect of the error on Year 2 financial statements?
A. Net income is overstated. B. Ending inventory is understated. C. Cost of goods sold is overstated. D. Gross margin overstated.
Administrative law includes only state regulations
Indicate whether the statement is true or false
Which of the following in NOT a potential problem suffered by the IRR method of capital budgeting?
A) Multiple IRRs B) Disagreement with the NPV as to whether a project with ordinary cash flows is profitable or not C) Incorporates the IRR as the reinvestment rate for the future cash flows D) Comparing mutually exclusive projects