Nontariff barriers to trade are less transparent than tariffs.
Indicate whether the statement is true or false
Question 2 - Most economists support open trade because it increase our choices as consumers, lowers costs for producers, increases competition and innovation, and leads to greater diffusion of technological change.
Indicate whether the statement is true or false
Question 3 - Countries of the world differ in terms of their
A) geographic size.
B) population size.
C) standards of living.
D) All of the above.
Question 4 - Intermediate inputs are
A) goods used for household consumption only.
B) goods used for government consumption only.
C) goods purchased by one business from another to use in production.
D) goods purchased by foreigners.
E) raw materials used in the production process.
Question 5 - Daily foreign exchange transactions have grow from about 15 billion in 1973 to about 4 trillion today.
Indicate whether the statement is true or false
Question 6 - The new GATS and TRIPS are separate agreements negotiated within the WTO framework as part of the Uruguay Round that apply to
A) services and aircraft.
B) services and transportation.
C) agriculture and textiles.
D) services and intellectual property.
E) textiles and transportation.
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