The international organization that replaced the General Agreement on Tariffs and Trade (GATT) is the
a. World Bank.
b. Export-Import Bank.
c. World Trade Organization.
d. International Monetary Fund.
c. World Trade Organization.
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A point to the left of the BP curve would represent
A) a balance of payments deficit. B) a balance of payments surplus. C) internal disequilibrium. D) Both A and C.
In the context of sales taxation, SSTP stands for Simplified Sales Tax Project
a. True b. False
The U.S. government imposes import quotas on many agricultural products, especially products that receive price supports. Offer an economic explanation for this
What will be an ideal response?
During the last several decades, the size of the trade sector (exports plus imports) of the United States has been
a. increasing as a share of the economy. b. relatively constant as a share of the economy. c. declining as a share of the economy. d. increasing during periods of recession, but declining during periods of strong economic growth.