Trade preferences for less-developed countries address the following problems EXCEPT:
A. unequal terms of trade
B. lack of demand
C. comparative cost advantages
D. unequal technological development
E. effects of the lack of capital
For neoclassical economists, the value of a good is determined by:
A. theamount of labor put into it.
B. its quality.
C. its usefulness.
D. the market context
E. exchange rates
According to the theory of the comparative advantage, trade depends on ________ between countries' production.
A. differences
B. streamlining
C. communication
D. competitiveness
E. cooperation
For states, economic capabilities are of interest because they are indicator of:
A. prosperity.
B. levels of integration.
C. levels of domestic satisfaction.
D. state power.
E. trading capabilities.
Even proponents of the laissez-faire approach concede that governments play a crucial role in global commerce by:
A. monitoring commercial activities.
B. setting interest rates.
C. managing the national supply of money.
D. providing subsidies to certain industries.
E. determining quality and security standards.
Quick Reply
