Economists
A) describe reducing tariffs and quotas as shallow integration.
B) describe reducing tariffs and quotas as deep integration.
C) believe that changing domestic policies affecting trade is a relatively simple process.
D) believe that the work of reducing trade barriers is done since most tariffs are low and most quotas eliminated.
A
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In 2003, China's control of the value of the yuan became an economic and political issue for the U.S. because:
A) increased U.S. exports to China. B) decreased U.S. exports to China. C) increased China imports from the U.S. D) none of the above.
Reputational rents refer to
A) the profit earned by a firm when it captures economies of scope. B) the costs associated with building credibility of a firm. C) the profit earned solely based on the credibility of a firm. D) the costs associated with the firm's achievement of economies of scale.