Agreements to abolish most barriers to trade among nations are known as:
a. free trade cartels.
b. discriminatory trade agreements.
c. neutral trade agreements.
d. preferential trade agreements.
e. retaliatory trade agreements.
d
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When Japan's MITI (Ministry of International Trade and Industry) focused resources on the semiconductor industry, and in particular on Random Access Memory (RAM), it was viewed as a typically successful Japanese foray into a new dynamic strategic
sector. The results, as viewed by the late 1990s A) justified this view. B) led to similar structuring of industrial policy in the U.S. C) lent support to the Brander-Spencer model. D) helped shift the focus of economists away from Japanese-style industrial policy. E) propelled Japan into the leading country in high-tech manufacturing.
A demand curve that has constant price elasticity of demand coefficient equals to one at all points is a(n):
a. rectangular hyperbola. b. downward-sloping straight line. c. upward-sloping straight line. d. none of these.
Describe a scenario of a family leasing a rent-control apartment. In your description, show the various pros and cons of rent control.
What will be an ideal response?
The defensive and offensive actions of the Fed differ because offensive actions are designed to:
A. change the current monetary policy while defensive actions are designed to reinforce the current monetary policy. B. reinforce the current monetary policy while defensive actions are designed to change the current monetary policy. C. tighten monetary policy and defensive actions are designed to ease monetary policy. D. ease monetary policy and defensive actions are designed to tighten monetary policy.