Which of the following are regulations that nations in regional trade blocs establish to delineate product categories eligible for trading preferences?
A) trade quotas
B) trade tariffs
C) rules of law
D) rules of origin
D
You might also like to view...
Refer to Table 1-1. What is Eva's marginal cost if she decides to stay open for two hours instead of one hour?
A) $12 B) $24 C) $36 D) $71
Assume fixed costs are 470 and labor costs $20 per unit. The first laborer produces 20 units of output. Subsequent hires add 5 units less to production than the previous worker. Thus the second worker adds 15, the third adds 10 etc. Which of the following is a true statement?
A. Average fixed cost is 10 when output is 45. B. Marginal cost keeps falling as the number of laborers hired increases. C. At an output of 20 the total cost is $20. D. Average total cost at an output of 50 is 11.
One reason stagflation is difficult to recover from is because:
A. less output requires less inputs to be hired. B. prices tend to adjust more quickly downward than upward. C. wages are sticky downward. D. input prices increase with output prices.
Crowding out occurs when the federal government:
A. raises taxes to finance a budget deficit. B. refinances maturing U.S. Treasury bonds. C. borrows by selling bonds to finance a deficit. D. uses a budget surplus to pay off part of the national debt.