In order to avoid the imposition of other types of trade barriers, foreign producers will sometimes agree to voluntary export restraints. With voluntary export restraints, foreign producers
A) must agree to import an equal quantity of products that they export.
B) agree to meet specific quality standards required by the importing country.
C) pay a tax on all products they export.
D) limit their exports to a country.
D
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The proportion of income which is earned in the form of wages for labor is currently about
A. 15 percent. B. 35 percent. C. 51 percent. D. 60 percent.
Limits on the flow of foreign exchange and financial investment across countries are called
A) currency restrictions. B) credit constraints. C) fixed exchange rates. D) capital controls.
Define the following terms and explain their importance to the study of macroeconomics:
a. aggregation b. recession c. gross domestic product d. final goods and services e. stabilization policy
What is a union shop, and what is its purpose?
What will be an ideal response?