When the evolution of new technologies is unknown, or it is unclear which country has the best rules for standards, the adoption of ________ is the superior option.
A) a harmonization of standards
B) separate standards
C) mutual recognition standards
D) larger country standards
E) All of the above.
Question 2 - Given that Sandy can produce 10 economics reports or make 2 sales calls and Tim can produce 2 economics reports or make 1 sales call, we can conclude that
A) Sandy should specialize in economics reports, and Tim should specialize in sales calls.
B) Sandy should produce both economics reports and sales calls since she cannot possibly gain from trade with Tim.
C) Tim should specialize in producing economics reports, and Sandy should specialize in producing sales calls.
D) Tim should produce both economics reports and sales calls.
Question 3 - If Slovenia were a large country in world trade, then if it imposes a large set of tariffs on its imports, this must
A) decrease the internal price of imports below the world market rate.
B) cause retaliation on the part of its trade partners.
C) harm Slovenia's real income.
D) improve Slovenia's real income.
E) improve the real income of its trade partners.
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