Which of the following is NOT true of the Uruguay Round of the multilateral trade negotiations?
A. The Uruguay Round initiated a process of liberalizing trade in services.
B. The Uruguay Round included agreement requiring member countries to provide minimum levels of ownership protection for intellectual property.
C. The Uruguay Round agreements began a process of liberalizing trade in agricultural products.
D. The Uruguay Round narrowed down the set of nontariff barrier (NTB) codes as set up by the Kennedy Round and the Tokyo Round.
Answer: D
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The above table shows production combinations on a country's production possibilities frontier. Which of the following points signifies efficient production?
A) 0 units of good X and 40 units of good Y B) 3 units of good X and 25 units of good Y C) 10 units of good X and 16 units of good Y D) 12 units of good X and 1 unit of good Y
Which of the following forces us to choose among alternatives?
a. Value b. Scarcity c. Rarity d. Market mechanism
Perfect competition forms one extreme of the market structure spectrum
a. True b. False Indicate whether the statement is true or false
If Juana contracts to buy U.S. office equipment in U.S. dollars and her domestic currency depreciates against the U.S. dollar between the time the contract is signed and the bill is paid, she will wind up paying less for the equipment because she stayed in the spot market
Indicate whether the statement is true or false