The "most favored nation principle" means:
a. that member countries can enter into exclusive favorable agreements with some countries.
b. that member countries are barred from forming agreements outside their geographic vicinity.
c. that member countries must apply the same low tariffs to all WTO member countries.
d. that member countries must apply differential tariffs on imports from non-WTO countries.
Ans: c. that member countries must apply the same low tariffs to all WTO member countries.
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The housing bubble experienced in 2006 in the U.S. was exhibited by the extraordinary rise in the ratio of prices of houses to rents on houses
a. True b. False Indicate whether the statement is true or false
A decrease in autonomous consumption would have the same effect on the expenditures schedule as a(n)
a. decrease in investment. b. increase in government purchases. c. increase in net exports. d. decrease in taxes