Separate 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.
D
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What is perfect price discrimination? Is perfect price discrimination efficient? Why or why not?
What will be an ideal response?
The price index that measures the prices of goods and services purchased by firms is called the:
A. PPI. B. CPI. C. RPI. D. PRI.
Diamonds are considered:
A. a renewable resource. B. a nonrenewable resource. C. physical capital. D. technology.
A nation with cheap, efficient communications is likely to be
a. richer, ceteris paribus, because transaction costs will be lower and trade greater. b. richer only if production of goods is cheaper, too, since trade itself cannot create value. c. poorer since it spends so much on communication instead of true productivity. d. spending too much on communications, which adds nothing to the value of output.