Which of the following is a preferential agreement?
A) the Trans-Pacific Partnership (TPP)
B) the Transatlantic Trade and Investment Partnership (TTIP)
C) the Caribbean Basin Initiative (CBI)
D) the Asia-Pacific Economic Cooperation (APEC)
C
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The total indebtedness of the federal government in the form of outstanding interest-earning bonds is the
A) budget surplus. B) trade deficit. C) national debt. D) budget deficit.
A manager bidding in an auction with independent private values for a large piece of industrial equipment has estimated that the expected profit from the equipment is $10 million. If the manager is indifferent about the uncertainty surrounding the expected profit of the equipment, the manager is ________ and the manager's value of the truck is ________.
A) risk averse; $10 million B) risk neutral; $10 million C) risk averse; less than $10 million D) risk neutral; less than $10 million
The purchasing power parity hypothesis implies that an increase in inflation in one country relative to another will over a long period of time
a. increase exports b. reduce the competitive pressure on prices c. lower the value of the currency in the country with the higher inflation rate d. increase foreign aid e. increase the speculative demand for the currency
The agreement signed after the Uruguay Round of the General Agreement on Tariffs and Trade included coverage in several new areas of trade and investment. Which of the following is not one of those new areas?
A. Treatment of foreign investment B. Agriculture and agriculture support policies C. Trade in services D. Intellectual property rights