Why is the U.S. putting less emphasis on multilateral and more emphasis on bilateral trade agreements?
What will be an ideal response?
Tariffs are low and quotas have mostly been eliminated; the Cold War is over; remaining trade issues are tough; more participants make multilateral negotiations difficult; bilateral can be testing ground for new arrangements.
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The long-run aggregate supply (LAS) curve
A) has a positive slope. B) has a negative slope. C) is vertical. D) is horizontal.
The most important of the factors that make a firm successful and that can be controlled by the firm's owners and managers are
A) lobbying government to erect or enforce entry barriers in its markets and the marketing of its products as widely as possible. B) the establishment of trademarks for its products and the aggressive defense of those trademarks. C) the differentiation of its products and the production of products at a lower average cost than competing firms. D) the selection of the prices of its products and the selection of the most productive and loyal employees.