The most-favored-nation policy implies that the United States will
a. extend concessions made in bilateral trade agreements to all other nations.
b. give preference to North American nations in all trade matters.
c. work to lower trade barriers with Canada.
d. extend tariff and quota concessions only to major trading partners.
a. extend concessions made in bilateral trade agreements to all other nations.
You might also like to view...
Perhaps the most compelling argument against the redistribution of income is that __________.
a. it does not work b. it is unfair c. we cannot afford it
Recently several food companies have adopted policies for "humane" treatment of animals to apply to providers of their meats. The food companies expect that their action will help differentiate their product from their competitors who have not adopted such policies. They expect that "differentiation" of their product will allow them to:
a) Do little to change their price because the food industry is a very competitive industry b) Lower price so they will be able to sell more product c) Raise price to cover higher input costs and get higher profit
In the long run a firm will go out of business if __________ is greater than ___________.
Fill in the blank(s) with the appropriate word(s).
Economists make the general assumption that:
A. people are irrational, but there are some correlations in behavior that have been proven. B. people are rational, but their behavior doesn't always follow this assumption. C. people are irrational, but this is too difficult to put into a model. D. people are rational, but this doesn't really ever resemble reality.