The basic principle that a country should treat imports from all other countries the same way is
a. quantitative restriction
b. export orientation
c. most favored nation
d. free-trade area
e. none of the above
C
You might also like to view...
Shoe-leather costs arise from inflation because the velocity of circulation of money ________ as the inflation rate ________
A) decreases; rises B) increases; rises C) does not change; rises D) increases; falls E) does not change; falls
Which of the following statements is true of a perfectly competitive market?
A) Innovation is less likely in a competitive market because of free entry and exit of firms. B) Innovation is likely in a competitive market because of free entry and exit of firms. C) The firms in a competitive market invest more in R&D because they face an inelastic demand curve. D) The firms in a competitive market invest more in R&D because their demand for resources is perfectly elastic.