A multilateral approach to free trade has greater potential to increase the gains from trade than a unilateral approach, because the multilateral approach can reduce trade restrictions abroad as well as at home
a. True
b. False
Indicate whether the statement is true or false
True
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Discrimination is generally easy to detect on a case-by-case basis because the circumstances surrounding the decision to discriminate are rarely subjective
Indicate whether the statement is true or false
Which of the following examples definitely illustrates an appreciation of the U.S. dollar?
A) The dollar exchanges for 120 euros and then exchanges for 100 euros. B) The dollar exchanges for 100 yen and then exchanges for 125 euros. C) The dollar exchanges for 1 pound and then exchanges for 1.2 pounds. D) none of the above
For a lender in a (c,c') graph, the optimal consumption bundle is
A) to the left of the endowment point. B) to the right of the endowment point. C) on the endowment point. D) dependent on other factors.
If the price of flashlights in production increases, then supply of ______ would most likely increase.
a. batteries b. pencils c. olive oil d. iron ore