A significant advantage to being a member of a trade bloc is
A) higher tariff collections from member countries.
B) reduced or eliminated tariffs among member countries.
C) reduced tariff rates only for the largest member countries.
D) None of the above; there is no economic advantage to a trade bloc.
B
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If consumers tend to buy higher quantities of goods and services for which prices rose in the past year compared to the quantities of goods and services for which prices fell, we would say the economy has likely experienced
A. reflation B. stagflation C. deflation D. inflation
Different public goods can have different sized sharing groups, so efficiency would dictate _____
a. that only one national government is necessary b. that public goods be provided by the federal government and the states deal with externalities c. one world government for most pure public goods d. different public goods supplied at different levels of government