The Trans-Pacific Partnership (TPP) would ________ tariffs on most goods and services shipped between partnership countries and also ________ so-called non-tariff barriers to trade, such the licenses governments require to import some goods
A) lower; raise B) raise; raise C) eliminate; reduce D) lower; eliminate
C
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Every society must follow some kinds of criteria to determine who gets what. Examples of such criteria include
A) age. B) gender. C) height. D) willingness to pay. E) all of the above.
Would the use of money, as opposed to barter, increase the growth rate of real GDP in a country over time? Why or why not?
What will be an ideal response?
Why are high domestic savings rates important?
What will be an ideal response?
If short-run equilibrium output equals 50,000 and potential output (Y*) equals 45,000, then this economy has a(n) ________ gap that can be closed by ________.
A. recessionary; increasing government purchases B. expansionary; increasing transfer payments C. expansionary; decreasing government purchases D. expansionary; decreasing taxes