Which of the following is true of Western Europe, Japan, Canada, Mexico, and China taken together?
a. All these countries are classified as high-income countries by the World Bank.
b. They are all members of the North American Free Trade Agreement [NAFTA].
c. All these countries are considered developing countries by the World Bank.
d. They are collectively the largest trade partners of the U.S.
e. They are the five largest exporters of agricultural produce in the world.
d
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Tariffs tend to escalate with stages of processing
Indicate whether the statement is true or false
The industrial organization economics perspective locates the source of competitive advantage at the
a. Individual firm level b. Industry level c. Both a and b d. None of the above
Lobbying can shape regulations through:
A. collusion. B. objective cost benefit analysis. C. forced action. D. rent-seeking behavior.
The J-curve effect in reference to the trade balance may persist:
a. for up to one year after the depreciation. b. permanently. c. for a few weeks only. d. for up to 10 years after the depreciation.