Harmonization of standards refers to
A) the elimination of tariffs and quotas by trading partners.
B) common product safety, environment, labor, and fair competition standards agreed upon by trading partners.
C) the acceptance or keeping of a trading partner's standards as valid and sufficient by another trading partner.
D) separate standards held by different trading partners which other partners refuse to recognize.
B
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Tabitha shares a flea market booth with her sister. Her share of the rent is $150 per month. She is considering moving to her own, larger booth which she will not have to share with anyone. The larger booth rents for $450 per month
Recently, you ran into Tabitha in the grocery store and she tells you that she has rented the larger booth. Tabitha is as rational as any other person. As an economics major, you rightly conclude that A) Tabitha figures that the additional benefit of having her own booth (as opposed to sharing) is at least $300. B) Tabitha did not have a choice; her sister was overcharging her. C) the cost of having one's own booth outweighs the benefits. D) Tabitha figures that the additional benefit of having her own booth (as opposed to sharing) is at least $450.
Federal taxes increased in 1932, 1935 and 1937, and Social Security taxes were imposed in 1937 . Which group is credited for these tax increases during the Great Depression?
(a) Classical economists (b) Keynesian economists (c) Monetarists (d) Government officials and special interest groups
A checkable account
A) is a very illiquid asset. B) is one on which the holder can write checks. C) must be traded on the stock exchange. D) cannot serve as a store of value.
In 1940, civilian purchases of goods and services equaled roughly _____ of GDP; by 1943, it had changed to roughly ________ of GDP
a. 97 percent; 57 percent b. 50 percent; 50 percent c. 25 percent; 75 percent d. 50 percent; 10 percent