The main problem posed by trade blocs for nonmember nations is that:
A. member nations may achieve growth rates that exceed those of nonmember nations.
B. nonmembers must exchange their currencies for foreign monies before they can engage in
export or import transactions.
C. nonmembers face tariffs that member nations do not.
D. member nations refuse to participate in tariff negotiations sponsored by GATT.
C. nonmembers face tariffs that member nations do not.
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Suevania opens its doors to trade with Barvania. Barvania has a comparative advantage in the production of machinery. Hence, once trade occurs Suevania's consumers will buy ________ machinery and pay ________ before
A) more; a lower price than B) the same amount of; the same price as C) less; a higher price than D) more; a higher price than E) less; a lower price than
To enforce the optimum level of emissions, a government could set an emissions fee, which would be
A) the dollar value indicated by the intersection of the MSB and MCA curves, and would apply to every unit of pollutants the firm emitted. B) the dollar value indicated by the intersection of the MSB and MCA curves, and would apply to every unit of pollutants the firm emitted above the standard. C) the vertical intercept of the MSB curve. D) the vertical intercept of the MCA curve. E) the vertical distance between the intercepts of the MSB curve and the MCA curve.
In an exchange economy:
A. people produce goods, but do not own or trade them. B. people own and trade goods, but no production takes place. C. people produce, own and trade goods. D. people trade goods, but do not own them or produce them.
Which of the following is correct?
a. The Bureau of Labor Statistics uses data collected from those applying for unemployment insurance to compute the unemployment rate. b. The labor force includes all adults who are able to work. c. Unpaid homemakers are counted as "employed" by the Bureau of Labor Statistics. d. People working part time are counted as "employed" by the Bureau of Labor Statistics.