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The basis for trade includes

• Autarky.

• Differing opportunity costs.

• Identical opportunity costs.

• Government regulatory actions.
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WTO
What multinational institution was created by the Uruguay Round Agreements and replaced the GATT?

• NAFTA

• European Union

• WTO

• None of the above
All of the above.
The four major forms of economic integration include

• Free trade area.

• Economic union.

• Customs union.

• Common market.

• All of the above.
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Depreciate
Using the graph below, the value of the zlotych will ________ after U.S. interest rates rise.

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