How does the text distinguish between coercion and persuasion?
What will be an ideal response?
Coercion induces cooperation by threatening to reduce options, persuasion by promising to expand options.
You might also like to view...
Free trade means that nations can buy and sell goods from each other
a. unless absolute advantage favors one nation b. without government interference, e.g., tariffs and quotas c. without having to abide by comparative advantage d. and choose their own level of tariffs against each other e. according to their own national quotas
Diseconomies of scope occur when:
A. a firm's input prices rise as it increases output. B. a firm's average cost of production rises as it increases production. C. producing two products in a single firm is more expensive than producing them in separate firms. D. a firm's average cost of production falls as it increases production.
Money is an invention of government
Indicate whether the statement is true or false
________ suggests that with an increase in economic prosperity, world demand will shift toward luxury goods and away from staple goods.
A. The Heckscher-Ohlin theory B. The law of convergence C. The law of demand D. Engel's law