Holding your income and the price of lobster constant, you can derive your demand curve for steak from an indifference curve/budget line diagram by determining how your consumption of steak changes when the price of a steak changes

Cap-and-trade refers to

A) capping emissions and issuing tradeable emissions permits. B) capping revenue from selling emissions permits. C) countries trading fishing rights in international waters. D) capping taxes on firms that engage in international trade. E) capping the benefits gained from pollution controls.

Which of the following development strategies emphasize freer trade?

a. Import substitution b. Export promotion c. Higher export tariffs d. Higher import tariffs