Answer the following statements true (T) or false (F)
1. The issue is not so much whether globalization will pressure low-income countries to reduce their environmental standards, but instead whether the threat of blocking international trade can pressure these countries into adopting stronger standards.
2. Environmental protection is vital to two industries of key importance in many low-income countries—agriculture and tourism.
3. Few nations belong to both the World Trade Organization and regional trading agreements.
4. The disruption caused by international trade is fundamentally different from all the other disruptions caused by the other workings of a market economy.
1. True
This statement is true. The issue is not so much whether globalization will pressure low-income countries to reduce their environmental standards, but instead whether the threat of blocking international trade can pressure these countries into adopting stronger standards.
2. True
This statement is true. Environmental protection is vital to two industries of key importance in many low-income countries—agriculture and tourism.
3. False
This statement is false. Many nations belong to both the World Trade Organization and regional trading agreements.
4. False
This statement is false. The disruption caused by international trade is not fundamentally different from all the other disruptions caused by the other workings of a market economy.
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Which is not true regarding a delayed-compensation contract?
A. It discourages workers from shirking. B. An effective one requires a mandatory retirement age. C. It necessarily costs more in labor costs than a time rate system. D. It is associated with an upward-sloping age-earnings profile. E. It decreases employee turnover within the firm.
Jen is offered a job answering the phone in the State U economics department during lunchtime, from noon to 1 p.m., Tuesdays and Thursdays. Her reservation wage for this job is $15 per hour. Now suppose the department chair announces that the $150 per week earnings from the job will be divided equally among Jen and 299 other students in the department. How much economic surplus will Jen enjoy each week if she accepts the job?
A. $0.50 B. -$29.00 C. -$29.50 D. -$14.00