Which of the following is NOT an obstacle to increased international economic integration?
A) Monopoly powers given to domestic companies of individual nations
B) High tariff rates imposed by industrialized nations
C) Health and safety standard requirements
D) Labor and environmental standard requirements
E) Income disparities among and within trading partners
B
You might also like to view...
Missouri can produce 10,000 tons of pecans per year or 5,000 tons of pears per year. Washington can produce 12,000 tons of pecans per year or 48,000 tons of pears per year. Which of the following statements is TRUE?
A) Washington has an absolute advantage in the production of both pecans and pears. B) Washington has a comparative advantage in the production of both pecans and pears. C) Washington has a comparative advantage in producing pecans and Missouri has a comparative advantage in producing pears. D) Both answers A and C are correct.
If an economy has aggregate output of $20 trillion, then aggregate income is
A) $10 trillion. B) $20 trillion. C) $30 trillion. D) $40 trillion.