To help developing countries expand their industrial base, some industrial countries have reduced tariffs on designated manufactured imports from developing countries below the levels applied to imports from industrial countries
This policy is called A) export-led growth.
B) generalized system of preferences.
C) Most Favored Nation.
D) reciprocal trade agreement.
E) outsourcing.
B
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An externality is an example of a market failure
Indicate whether the statement is true or false
The more willing suppliers are to substitute away from a taxed good, _____
a. the larger the proportion of the tax paid by demanders b. the smaller the proportion of the tax paid by demanders c. the greater the increase in output will be d. a and c
Scarce goods are: a. desirable and unlimited in amount
b. undesirable and unlimited in amount. c. desirable and limited in amount. d. undesirable and limited in amount.
Liquidity can be defined as the
a. cash value of money. b. value of money adjusted for inflation. c. value of fiat money when used for spending. d. ease with which an asset can be converted to a spendable asset.