The most successful free trade agreements achieve all of the following goals, except:
a. benefiting exporters by increasing exports to member countries.
b. ensuring that production occurs on the basis of comparative advantage.
c. benefiting consumers by making a wider variety of goods available at a lower price.
d. stimulating trade creation to allow the benefits of trade to be realized.
e. protecting domestic industries from foreign competition.
b
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Comparative risk analysis is
a. a risk assessment strategy c. a risk characterization approach b. a risk management strategy d. none of the above
When uncertainty over the timing of death is added to the LCH, this ________ the planning horizon and ________ the MPC for transitory income
A) shortens, raises B) shortens, lowers C) lengthens, raises D) lengthens, lowers
Internal improvements are important to a developing and growing economy
Indicate whether the statement is true or false
Suppose there are only two goods, apples and oranges. What happens if the price of each good increases by 15 percent?
a. The consumer will substitute apples for oranges. b. The consumer will substitute oranges for apples. c. There is no substitution effect because relative prices have remained constant. d. Demand for both goods increases. e. Demand for both goods decreases.