Answer the following statements true (T) or false (F)
1. The Trade Expansion Act of 1974 restricted the authority of the president of the United States to reduce tariffs.
2. The rule of origin defines the maximum percentage of a country’s exported product that can be sold in the United States.
3. If trade between the United States and Canada were totally free of restrictions, the incomes of most Canadian workers would decrease.
4. Maquiladoras are export-oriented plants, often along the U.S.–Mexico border, that are exempt from paying import duties on raw materials and parts used in making final products.
5. The Maastricht Agreement calls for a common currency and a single central bank in the European Union.
1. FALSE
2. FALSE
3. FALSE
4. TRUE
5. TRUE
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An optimal choice can be characterized as a decision made by someone who is satisficing.
Answer the following statement true (T) or false (F)
The market price of one currency in terms of another currency is also known as
A) the exchange rate between those currencies. B) the future rate between those currencies. C) the spot market. D) the value of arbitrage.
An individual with no deductible on his or her health insurance policy will tend to engage in a lifestyle that is less healthy than a person with a $2,000 insurance deductible. This is said to be a problem of
A) healthy selection. B) moral hazard. C) wellness training. D) blue-zoning.
If the Fed decides to engage in an open market operation to increase the money supply, what will it do?
A. Sell Treasury bonds, bills, or notes on the bond market. B. Buy Treasury bonds, bills, or notes on the bond market. C. Increase the required reserve ratio. D. Increase the fed funds rate.