Which of the following describes world trade since 1950?
a. Tariffs have fallen, and trade has grown twice as fast as world output.
b. Tariffs on goods have risen from 9% in 1950 to an average of 26%.
c. Overregulation and rising tariffs have reduced world trade since 1950.
d. Trade agreements have limited many trading partners to their own region.
a. Tariffs have fallen, and trade has grown twice as fast as world output.
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What will be an ideal response?
Usually the imposition of trade barriers affecting a particular good benefits ________ people domestically, each of whom gains a ________
A) a few; little B) a few; lot C) many; little D) many; lot
White-collar jobs guarantee financial security
Indicate whether the statement is true or false
In the real world, ____ factors that affect demand and supply can change at once.
a. many b. isolated c. no d. psychological