Harmonization of standards refers to
A) the elimination of tariffs and quotas by trading partners.
B) common product safety, environment, labor, and fair competition standards agreed upon by trading partners.
C) the acceptance or keeping of a trading partner's standards as valid and sufficient by another trading partner.
D) separate standards held by different trading partners which other partners refuse to recognize.
E) All of the above.
B
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The figure above shows the demand and supply of dollars in the foreign exchange market. At a price of 1.20 Brazilian reals per dollar
A) there will be a shortage of dollars. B) $120 billion dollars will be supplied. C) $40 billion dollars will be demanded. D) there will be a surplus of dollars.
When people buy assets simply because they believe the assets will appreciate and can be sold for a profit, it may cause:
A. a recession. B. unemployment. C. inflation. D. an asset-price bubble.
Ceteris paribus, if Canadians decide they want to eat more U.S.-grown soybeans, this causes the ________ U.S. currency to ________.
A. demand for; increase B. supply of; increase C. demand for; decrease D. supply of; decrease
The cost of an extra unit of oil in the United States in terms of coal given up is
A. 25.
B. 50.
C. 2.
D. 1/2.