Harmonization of standards
A) is costly for high income countries.
B) can reduce firm costs.
C) is less difficult for dissimilar countries.
D) is part of the race to the bottom.
B
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Someone who turns down an opportunity to purchase a Bible for $5 and then immediately pays $5 to attend a movie thereby expects to obtain more satisfaction from seeing the movie than from
A) cultivating the spiritual life. B) deepening his religious faith. C) owning the Bible just offered to him. D) reading the Bible.
Full employment is considered a major economic goal because: a. specialization is not possible without full employment
b. economic growth can only occur when there is full employment. c. the opportunity cost of unemployment is lost production. d. profit maximization of firms can only occur when there is full employment. e. inflation will be lower when full employment is achieved.
The current exchange rate system for most currencies is described most accurately as one of
a. fixed exchange rates. b. freely flexible exchange rates. c. gold standard rates. d. dirty or managed floating.
All economists agree that the economy is self-regulating
Indicate whether the statement is true or false