Why is the U.S. putting less emphasis on multilateral and more emphasis on bilateral trade agreements?
What will be an ideal response?
Tariffs are low and quotas have mostly been eliminated; the Cold War is over; remaining trade issues are tough; more participants make multilateral negotiations difficult; bilateral can be testing ground for new arrangements.
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As capital deepening occurs, there will be
A) decreases in depreciation and decreases in saving. B) increased real wages and economic growth. C) decreased real wages and decreases in saving. D) economic growth and decreases in depreciation.
In the market for international loans, most countries, including the United States, are net borrowers
Indicate whether the statement is true or false
When economists talk about supply, they are referring to a relationship between price received for each unit sold and the _________________.
A. demand schedule B. market price C. quantity supplied D. demand curve
A public good:
a. is rivalrous in consumption and excludable b. in nonrivalrous in consumption and nonexcludable c. must be produces by government d. both b. and c.