What has happened to the free trade agenda in the last few years, and in particular to the fate of the Doha Round of trade negotiations?
What will be an ideal response?
The Doha Round of trade talks was launched at a meeting of trade ministers in Doha, Qatar, in November 2001. More than seven years into the negotiations, little progress has been made, and in July 2008 the talks collapsed.
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If a large open economy, like the United States, reduces its budget deficit, what impact would this have on a small open economy?
A) higher savings B) increased investment C) increased net savings D) no change in interest rates
Deadweight loss is
A) the amount of taxes that consumers and monopolists pay. B) the loss of output when a perfectly competitive firm becomes a monopolist. C) a loss of benefit to consumers in a monopoly that no one else in society can obtain. D) the price that consumers pay for a product in excess of the average cost of producing it.