The use of trade barriers to enforce standards abroad raises all of the following concerns EXCEPT
A) the potential deadweight losses in consumption and production at home.
B) the lack of agreement over specific content of standards.
C) the potential for the use of trade barriers to erupt into a bigger trade war.
D) the difficulty of knowing whether some of the concerns are over standards or veiled protectionism.
E) only small countries may be able to use trade barriers effectively.
E
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Spreading wealth across multiple investments is called
A) diversification. B) arbitrage. C) speculation. D) asset liquification.
Labor demand is decreasing in the wage because
A) the substitution effect is larger than the income effect. B) the income effect is larger than the substitution effect. C) the production function is concave. D) the marginal product of labor is increasing in labor.
Explain why there is a direct relationship between price and quantity supplied
What will be an ideal response?
When the U.S. housing market slumped from 2005 to 2007, we would expect the demand curve for lumber
a. exhibited a movement along to the right b. shifted to the left c. exhibited a movement along to the left d. shifted to the right e. None of the answers is correct.