Reform of a country's trading system, including the reduction or elimination of trade barriers, is an example of
A) an orthodox stabilization plan.
B) a heterodox stabilization plan.
C) import substitution industrialization.
D) structural reform.
D
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The United States imposes a quota on sugar imports
a. because sugar is considered unhealthy b. because sugar cannot be produced in the U.S. c. to avoid having to pay billions of dollars annually to support domestic sugar prices d. to avoid having to pay billions of dollars annually to support foreign sugar prices e. because a tariff would not be efficient
Macland is specializing and trading with Microland. Where will Macland be on its production possibility frontier?
a. It will be on the PPF. b. It will be inside the PPF. c. It will be outside of the PPF. d. It will be shifting the PPF out.
Which of the following best explains why you are more likely to see a poor person than a wealthy person picking up aluminum cans to sell?
A. The opportunity cost of picking up cans is higher for wealthy people than for poor people. B. Wealthy people are more aware of diseases transmitted through litter than are poor people. C. Wealthy people are more concerned about their public image than are poor people. D. Wealthy people do not care about the environment.
Answer the next question on the basis of the following information for a bond having no expiration date: bond price = $1,000; bond fixed annual interest payment = $100; bond annual interest rate = 10%. If the price of this bond increases to $1,250, the interest rate will
A. rise to 11%. B. fall to 9%. C. rise to 12%. D. fall to 8%.