Which of the following refers to trade creation?
A. The net change in the volume of trade among member countries when they form a trade bloc
B. The net increase in imports when foreign firms lower the prices of their exports
C. The net increase in exports when the currency of a country depreciates with respect to a foreign currency
D. The net volume of new trade that results from the formation of a trade bloc
Answer: D
You might also like to view...
Globalization and growing technology have produced
A) more opportunities for low-skilled labor than for high-skilled labor. B) equal opportunities for low-skilled and high-skilled labor. C) outsized, exponential rewards for superstar talent. D) rewards for labor that have reduced income inequality.
The graph shows the labor market for teenagers in Atlanta. If the government sets a minimum wage of $6 an hour, then the maximum amount that a teenager would be willing to spend on job search is ________ an hour
A) $2 B) $4 C) $5 D) $6 E) $3
____________is the cost that a business incurs even when the plant is idle and output is zero.
Fill in the blank(s) with the appropriate word(s).
Economic analysis and policy are made more difficult by
A. having so much data to work with. B. inadequate and imperfect information. C. an incomplete consensus on the basic goals of social policy. D. the lack of public interest and opinion on economic questions. E. the major economic problems society faces.