One feature of the GATT and now the WTO is that all member nations get the same treatment from their trading partners in terms of trade rules and restrictions. This provision is called:
a. beggar thy neighbor.
b. the good neighbor policy.
c. rotating obligations.
d. most favored nation status.
Ans: d. most favored nation status.
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In the United States since 1960, the price of health care services has increased but the price of health insurance has decreased
Indicate whether the statement is true or false
Which of the following is responsible for holding bank reserves?
A. The Federal Reserve Board of Governors. B. The 12 regional Federal Reserve banks. C. The Executive Branch of government. D. The Fed chairman.
Which of the following trade rounds was started in 2001 but has never been settled even in 2012 and whose goals were aimed at lowering tariffs on a wide range of industrial and agricultural products?
a. Uruguay b. Switzerland c. Doha d. All rounds have been completed.
If an oligopolistic industry organizes itself as a cooperative cartel, it will produce a quantity of output ________ the competitive level and ________ the monopoly level.
a. equal to, more than b. less than, more than c. less than, equal to d. more than, less than