In the past twenty years or so, all major U.S. trade legislation has typically included all of the following except
A) negotiating authority for the President to try to achieve new trade agreements.
B) new U.S. trade barriers in the form of dumping or countervailing duty laws.
C) new U.S. trade barriers in the form of uniformly higher tariffs on all goods.
D) expanded laws calling on the President and USTR to investigate and challenge unfair trading practices of foreign countries.
C
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Possession of information by one party in a financial transaction but not by the other party is
A) symmetric information. B) asymmetric information. C) informational hazard. D) financial intermediation.
A discount bond involves
A) interest payments from the borrower to the lender periodically during the life of the loan. B) payment by the borrower to the lender of the face value of the loan at maturity. C) no payment of principal by the borrower to the lender. D) payment of interest by the borrower to the lender every six months during the life of the loan.