In order to avoid the imposition of other types of trade barriers, foreign producers will sometimes agree to voluntary export restraints. With voluntary export restraints, foreign producers
A) agree to meet specific quality standards required by the importing country.
B) limit their exports to a country.
C) pay a tax on all products they export.
D) must agree to import an equal quantity of products that they export.
Answer: B
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Assume the inflation rate falls from 4 percent to 2 percent. This means that
A) the price level has fallen. B) the price level is increasing more slowly. C) the economy is experiencing deflation. D) real GDP is decreasing.
Which of the following countries is not a member of the Economic Monetary Union?
a. England b. Italy c. Spain d. Finland
The best measurement for comparing the standard of living between two countries is:
A. The ratio of current GDP to GDP in the base period. B. GDP per capita. C. Investment as a percentage of GDP. D. GDP per worker.
In terms of all income, men make ________ more than women make.
A. 63% B. 90% C. 78% D. 99%