Question 1 1 out of 1 points If a country's PX/PY in autarky is less than the PX/PY on the world market, as the country moves to trade, the relative price of good Y will _____ for home consumers. Thus, consumers with a strong relative preference for good _____ would tend to oppose the movement to trade. Answer Selected Answer: decrease; X Correct Answer: decrease; X Question 2 1 out of 1 points If, for a consumer, MUA/PA is greater than MUB/PB, then the consumer Answer Selected Answer: has an incentive to consume relatively more A, which will decrease his/her MUA. Correct Answer: has an incentive to consume relatively more A, which will decrease his/her MUA.
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Question 1 1 out of 1 points
If a country's PX/PY in autarky is less than the PX/PY on the world market, as the country
moves to trade, the relative price of good Y will _____ for home consumers. Thus, consumers
with a strong relative preference for good _____ would tend to oppose the movement to trade.
Answer
Selected Answer: decrease; X
Correct Answer: decrease; X
Question 2 1 out of 1 points
If, for a consumer, MUA/PA is greater than MUB/PB, then the consumer
Answer
Selected Answer: has an incentive to consume relatively more A, which will decrease his/her
MUA.
Correct Answer: has an incentive to consume relatively more A, which will decrease his/her
MUA.
Question 3 1 out of 1 points
If skilled labor is physically more abundant relative to unskilled labor in country A than in
country B, yet skilled labor is relatively higher priced compared with unskilled labor in country
A than in country B, this phenomenon could be accounted for by
Answer
Selected Answer: demand reversal.
Correct Answer: demand reversal.
Question 4 1 out of 1 points
If two countries with increasing opportunity costs have identical PPFs but different tastes, the
countries will have
Answer
Selected Answer: different relative commodity prices under autarky, and each country can gain
by exporting the good for which its consumers have the lower relative preference.
Correct Answer: different relative commodity prices under autarky, and each country can gain
by exporting the good for which its consumers have the lower relative preference.
Question 5 0 out of 1 points
If country A is defined as relatively capital-abundant in relation to country B by the price (or
economic) definition of factor abundance, then the price of labor relative to the price of capital is
______ in country A than in country B, and the Heckscher-Ohlin theorem would suggest that
country A would export relatively ______- intensive goods to country B.
Answer
Selected Answer: higher; labor
Correct Answer: higher; capital
Question 6 1 out of 1 points
Which one of the following is NOT an assumption made in the Heckscher-Ohlin analysis?
Answer
Selected Answer: imperfect competition
Correct Answer: imperfect competition
Question 7 0 out of 1 points
A production isoquant shows the various combinations
Answer
Selected Answer: of exports that a country's firms are willing to produce at various terms of
trade.
Correct Answer: of two factors of production that can produce the same amount of output of a
good.
Question 8 1 out of 1 points
Which of the following does NOTcontribute to a basis for trade between two countries?
Answer
Selected Answer: different absolute factor endowments but the same relative endowments
Correct Answer: different absolute factor endowments but the same relative endowments
Question 9 1 out of 1 points
Two indifference curves for an individual consumer _____ intersect; two community
indifference curves for a country _____.
Answer
Selected Answer: cannot; can intersect under some circumstances
Correct Answer: cannot; can intersect under some circumstances
Question 10 1 out of 1 points
In the neoclassical model of trade, the movement of a country from autarky to free trade
generally results in _____ specialization in production, _____ the situation in the Classical
model.
Answer
Selected Answer: partial; unlike
Correct Answer: partial; unlike
Question 11 1 out of 1 points
Suppose that we are in a two-factor, two-country world where the factors of production are labor
(L) and land (T), the returns to the factors are the wage rate (w) and the rental rate on land (t),
and the countries are country A and country B. In this situation, country A is land-abundant
relative to country B by the physical definition of relative factor abundance if ______, and
country A is land-abundant relative to country B by the price (or economic) definition if ______.
Answer
Selected Answer: (L/T)A < (L/T)B; (w/t)A > (w/t)B
Correct Answer: (L/T)A < (L/T)B; (w/t)A > (w/t)B
Question 12 1 out of 1 points
If two countries have identical production-possibilities frontiers but different tastes, it is possible
for each country to gain from trade with the other country
Answer
Selected Answer: in the neoclassical model but not in the Classical model.
Correct Answer: in the neoclassical model but not in the Classical model.
Question 13 1 out of 1 points
Suppose that, in the context of the Edgeworth box diagram in production, there are constant
returns to scale in each of the two industries. One good is relatively labor-intensive in its
production process, and the other good is relatively capital-intensive in its production process. In
considering this Edgeworth box diagram and the PPF that can be derived from it,
Answer
Selected Answer: the PPF will show increasing opportunity costs.
Correct Answer: the PPF will show increasing opportunity costs.
Question 14 1 out of 1 points
An implication of the Heckscher-Ohlin theorem is that
Answer
Selected Answer: two countries with identical tastes can still have a basis for trade if factor
endowments of the countries differ and if factor intensities of the commodities differ.
Correct Answer: two countries with identical tastes can still have a basis for trade if factor
endowments of the countries differ and if factor intensities of the commodities differ.
Question 15 1 out of 1 points
If good A costs $10 per unit in country A and $12 per unit in country B, and if transport costs
between A and B for the good are $3 per unit, an economist would say that
Answer
Selected Answer: the good will be a nontraded good.
Correct Answer: the good will be a nontraded good.
Question 16 1 out of 1 points
The magnification effect refers to the fact that, when a country is opened to trade,
Answer
Selected Answer: the price of the abundant factor rises faster than does the price of the export
good.
Correct Answer: the price of the abundant factor rises faster than does the price of the export
good.
Question 17 1 out of 1 points
The Stolper-Samuelson theorem suggests that, when a country is opened to international trade,
the relative price of the country's abundant factor of production will ______, and the relative
price of the country's scarce factor of production will ______.
Answer
Selected Answer: rise; fall
Correct Answer: rise; fall
Question 18 1 out of 1 points
In the Edgeworth box diagram for production,
Answer
Selected Answer: a movement from autarky to trade can be associated with a movement along
the contract curve (or production efficiency locus).
Correct Answer: a movement from autarky to trade can be associated with a movement along
the contract curve (or production efficiency locus).
Question 19 1 out of 1 points
The equilibrium condition for producers (i.e., the condition that exists when the isocost line is
tangent to an isoquant) is
Answer
Selected Answer: (MPPL/MPPK) = (w/r).
Correct Answer: (MPPL/MPPK) = (w/r).
Question 20 1 out of 1 points
If relatively capital-abundant country A opens trade with relatively labor-abundant country B,
and if the trade takes place in accordance with the Heckscher-Ohlin theorem, what would be the
consequence for factor prices (w/r) in the two countries?
Answer
Selected Answer: (w/r) falls in A and rises in B
Correct Answer: (w/r) falls in A and rises in B
Question 21 1 out of 1 points
Suppose that a country's factors of production are completely specific to the industries in which
they are located (i.e., factors in the X industry would contribute nothing to Y output if they were
in the Y industry, and factors in the Y industry would contribute nothing to X output if they were
in the X industry). In addition, suppose that the country has an autarky PX/PY that is greater than
the world PX/PY. In this situation, if the country is opened to international trade, it will
Answer
Selected Answer: export good Y and will obtain gains from exchange (a consumption gain) but
not gains from specialization (a production gain).
Correct Answer: export good Y and will obtain gains from exchange (a consumption gain) but
not gains from specialization (a production gain).
Question 22 1 out of 1 points
If a country's PX/PY in autarky is less than the PX/PY on the world market, then this country
has a comparative advantage in the _____ good, and, if the country now engages in international
trade and moves along its production-possibilities frontier, its production of the X good will
_____.
Answer
Selected Answer: X; increase
Correct Answer: X; increase
Question 23 1 out of 1 points
The equilibrium condition for consumer behavior pertaining to goods A and B is
Answer
Selected Answer: (MUB/MUA) = (PB/PA).
Correct Answer: (MUB/MUA) = (PB/PA).
Question 24 0 out of 1 points
Ignoring the negative sign, the slope of a consumer indifference curve at any given point on the
curve reflects
Answer
Selected Answer: the marginal rate of technical substitution (MRTS) between the factors of
production.
Correct Answer: the marginal rate of substitution (MRS) of the consumer between the two
goods.
Question 25 1 out of 1 points
If a commodity is classified as labor-intensive at one set of relative factor prices but capital-
intensive at another set of relative factor prices, this situation is known as
Answer
Selected Answer: factor-intensity reversal.
Correct Answer: factor-intensity reversal.
Question 1 0 out of 1 points
If the demand for traded goods is price-inelastic, the price-specie-flow mechanism will result in
Answer
Selected Answer: gold movements between countries that remove trade deficits and surpluses.
Correct Answer: gold movements between countries that worsen trade deficits and surpluses.
Question 2 1 out of 1 points
Suppose that, in a Classical constant opportunity costs framework, country A can produce 15
units of wheat if it devotes all of its resources to wheat production and 45 units of clothing if it
devotes all of its resources to clothing production. In a trading situation for this country, if the
world price ratio is Pwheat/Pclothing = 1/3 (or Pclothing/Pwheat = 3), country A would
Answer
Selected Answer: export clothing and import wheat.
Correct Answer: export clothing and import wheat.
Question 3 0 out of 1 points
If a country's relative price of X (compared to Y) in autarky is greater than the same relative
prices on the world market, then the country has a comparative advantage in good ________, and
it will __________.
Answer
Selected Answer: X; export X and import Y
Correct Answer: Y; export Y and import X
Question 4 0 out of 1 points
In the Dornbusch-Fischer-Samuelson graph above, a uniform improvement in labor productivity
in all the home country's industries would shift the A schedule ____ and would lead to the export
of a ____ number of goods by the home country.
Answer
Selected Answer: upward; smaller
Correct Answer: upward; greater
Question 5 0 out of 1 points
In the Classical (Ricardian) analysis,
Answer
Selected Answer: if a country has a comparative advantage in a good, it cannot have an
absolute advantage in the good.
Correct Answer: a country can have a comparative advantage in a good at the same time that it
has an absolute advantage in that good.
Question 6 1 out of 1 points
During the price-specie-flow adjustment process to a trade imbalance, if demands for goods are
inelastic, then, when the price level _____ in the country with the trade deficit, the value of that
country's exports will _____ as the price-specie-flow process takes place.
Answer
Selected Answer: falls; decrease
Correct Answer: falls; decrease
Question 7 0 out of 1 points
Suppose that, with constant opportunity costs, Spain can produce 1,000 units of clothing if it
devotes all of its resources to clothing production and 5,000 units of wheat if it devotes all of its
resources to wheat production. If Spain is opened to trade at a world price ratio of 1 wheat:0.3
clothing, Spain will export _____; if the world price ratio is 1 wheat:5 clothing, Spain will
_____.
Answer
Selected Answer: clothing; also export clothing
Correct Answer: wheat; also export wheat
Question 8 0 out of 1 points
Which of the following policies would NOT be consistent with the Mercantilist balance-of-trade
doctrine?
Answer
Selected Answer: import duties on final products
Correct Answer: payment of high wages to labor
Question 9 0 out of 1 points
Suppose that, in a Classical model with two goods, Germany can produce 50 units of steel or 30
units of textiles with 1 day of labor, whereas Switzerland can produce 45 units of steel or 45
units of textiles with 1 day of labor. If the exchange rate is fixed at 1 Swiss franc = 1 euro and if
the Swiss wage rate is 10 francs per day, then, in trading equilibrium, German wages
Answer
Selected Answer: must be equal to 10 euros per day.
Correct Answer: can be above, below, or equal to 10 euros per day - the answer cannot be
determined without more information.
Question 10 0 out of 1 points
As a country moves from autarky to trade, the relative price of the country's import good will
_____ for home consumers, and the relative price of the country's export good _____ for home
consumers.
Answer
Selected Answer: fall; also will fall
Correct Answer: fall; will rise
Question 11 0 out of 1 points
In Adam Smith's view, international trade
Answer
Selected Answer: was based on absolute cost differences.
Correct Answer: all of the above
Question 12 0 out of 1 points
The following Classical-type table shows the number of days of labor input required to obtain
one unit of output of each of the three commodities in each of the two countries:
good T good X good Y
United Kingdom 4 days 5 days 3 days
United States 4 days 4 days 2 days
Based on the information provided in the table above, if the U.S. wage rate of $40 per day and
the exchange rate of £1 = $1, what is the upper limit to the wage rate in the United Kingdom that
is consistent with two-way trade between the countries?
Answer
Selected Answer: £32 per day
Correct Answer: £40 per day
Question 13 0 out of 1 points
The assumption of constant costs of production in the Classical model results in a _____
production-possibilities frontier and, in the case of a small country, ______ specialization in
production when trade takes place.
Answer
Selected Answer: concave-to-the-origin; complete
Correct Answer: linear; complete
Question 14 0 out of 1 points
In the Dornbusch-Fischer-Samuelson model depicted in the figure above, a shift in tastes and
preferences towards home country goods will cause the _____ schedule to pivot to the _____ and
relative wages in the foreign country to ______.
Answer
Selected Answer: C; right; rise
Correct Answer: C; left; fall
Question 15 1 out of 1 points
The paradox of Mercantilism reflected that fact that
Answer
Selected Answer: rich countries were comprised of large numbers of poor people.
Correct Answer: rich countries were comprised of large numbers of poor people.
Question 16 1 out of 1 points
The policy of minimum government interference in or regulation of economic activity,
advocated by Adam Smith and the Classical economists, was known as
Answer
Selected Answer: laissez-faire.
Correct Answer: laissez-faire.
Question 17 0 out of 1 points
According to the labor theory of value,
Answer
Selected Answer: the value of a good is determined by the amount of labor with which each
unit of capital in an industry works.
Correct Answer: the price of good A compared to the price of good B bears the same
relationship as the relative amounts of labor used in producing each good.
Question 18 0 out of 1 points
A Mercantilist policymaker would favor which of the following policies or events pertaining to
his/her country?
Answer
Selected Answer: a minimum wage bill to protect workers' standard of living
Correct Answer: an increase in the percentage of factors of production devoted to adding value
to imported raw materials in order to later export the resulting manufactured goods
Question 19 1 out of 1 points
In the Dornbusch-Fischer-Samuelson model above, a rise in labor productivity in the home
country would cause real national income to _____ in the home country and _____ in the foreign
country.
Answer
Selected Answer: increase; also to increase
Correct Answer: increase; also to increase
Question 20 0 out of 1 points
In the Mercantilist view of international trade (in a two-country world),
Answer
Selected Answer: both countries could gain from trade at the same time, and the terms of trade
would be of no consequence for the distribution of the gains.
Correct Answer: one country's gain from trade would be associated with a loss for the other
country.
Question 21 0 out of 1 points
In a Ricardo-type model, if Portugal can produce twice as much wine per day as England but
only 1.5 times as much cloth per day as England, then, if Portuguese wages are 30 euros per day,
the upper limit to English wages per day is _____. (Assume 1 euro = £1.)
Answer
Selected Answer: £45
Correct Answer: £20
Question 22 1 out of 1 points
If, in a two-commodity, two-country Classical world, Sweden can make a unit of furniture with
10 days of labor and a unit of steel with 15 days labor, whereas Germany can make a unit of
furniture with 12 days of labor and a unit of steel with 12 days labor, then
Answer
Selected Answer: the pretrade price ratios indicate that Germany will export steel.
Correct Answer: the pretrade price ratios indicate that Germany will export steel.
Question 23 1 out of 1 points
The price-specie-flow mechanism suggested that
Answer
Selected Answer: a surplus country would experience an increase in its money supply and its
price level.
Correct Answer: a surplus country would experience an increase in its money supply and its
price level.
Question 24 0 out of 1 points
In the price-specie-flow doctrine, a deficit country will _____ gold, and this gold flow will
ultimately lead to _____ in the deficit country's exports.
Answer
Selected Answer: lose; a decrease
Correct Answer: lose; an increase
Question 25 0 out of 1 points
The following Classical-type table shows the number of days of labor input required to obtain
one unit of output of each of the three commodities in each of the two countries:
good T good X good Y
United Kingdom 4 days 5 days 3 days
United States 4 days 4 days 2 days
Based on the information in the above table, suppose that the wage rate in the United Kingdom is
£30 per day, the wage rate in the United States is $40 per day, and the exchange rate is £1 = $1.
In this situation, the United Kingdom will _____.
Answer
Selected Answer: export good T and import goods X and Y
Correct Answer: export goods T and X and import good Y
Question 1 1 out of 1 points
Suppose that the nominal tariff rate on final good X is 8 percent and that the weighted average
of the nominal tariff rates on the inputs used in producing good X is 12 percent. In this situation,
the effective rate of protection (ERP) for final good industry X
Answer
Selected Answer: must be less than 8 percent and can be negative.
Correct Answer: must be less than 8 percent and can be negative.
Question 2 1 out of 1 points
Which one of the following could NOT theoretically be offered to help explain the Leontief
paradox?
Answer
Selected Answer: a relatively strong U.S. demand for relatively labor-intensive goods
Correct Answer: a relatively strong U.S. demand for relatively labor-intensive goods
Question 3 1 out of 1 points
Other things being equal, which one of the following will cause an increase in the effective rate
of protection (ERP) in the automobile industry?
Answer
Selected Answer: a decrease in the nominal tariff rates on imported inputs used in making
automobiles
Correct Answer: a decrease in the nominal tariff rates on imported inputs used in making
automobiles
Question 4 1 out of 1 points
Since about 1970, in both developed and developing countries, the ratio of trade to GDP has
_____; over the same time period, in the United States and the European Union, the ratio of
imports from developing countries to total imports _____.
Answer
Selected Answer: increased; also has increased
Correct Answer: increased; also has increased
Question 5 1 out of 1 points
Which one of the following is NOT an example of making a trade instrument more restrictive
against imports, other things being equal?
Answer
Selected Answer: a shifting of an import good from an administrative classification category
with a high tariff to an administrative classification category with a low tariff
Correct Answer: a shifting of an import good from an administrative classification category
with a high tariff to an administrative classification category with a low tariff
Question 6 1 out of 1 points
If the Heckscher-Ohlin theorem is valid in practice (and assuming that capital and labor are
treated as the only two factors in the real world), then the Leontief statistic for a labor-abundant
country would be
Answer
Selected Answer: greater than 1.0.
Correct Answer: greater than 1.0.
Question 7 1 out of 1 points
If relatively labor-abundant country A has a Leontief statistic greater than 1.0 and relatively
capital-abundant country B has a Leontief statistic less than 1.0, this suggests that
Answer
Selected Answer: both countries are conforming to the prediction of the Heckscher-Ohlin
theorem.
Correct Answer: both countries are conforming to the prediction of the Heckscher-Ohlin
theorem.
Question 8 0 out of 1 points
Suppose that the offshore assembly provisions (OAP) of country A are extended to final good X
that is imported as well as produced domestically. This action will most likely
Answer
Selected Answer: stimulate production in country A of final good X.
Correct Answer: stimulate production in country A of components to final good X.
Question 9 1 out of 1 points
In the large-country case, an export tax
Answer
Selected Answer: leads to an increase in price in the importing country.
Correct Answer: leads to an increase in price in the importing country.
Question 10 1 out of 1 points
If the U.S. trade pattern is as indicated by the Leontief test, this would suggest that participation
in trade rather than in autarky by the United States has _____ the real return to U.S. capital and
_____ the real wage of U.S. labor.
Answer
Selected Answer: decreased; has increased
Correct Answer: decreased; has increased
Question 11 1 out of 1 points
The situation in the United States (and other developed countries) whereby an import good faces
a lower tariff if the good comes from a developing country than if the good comes from a
developed country is known as
Answer
Selected Answer: GSP treatment.
Correct Answer: GSP treatment.
Question 12 1 out of 1 points
The imposition of an export tax by a home country will lead to _____ in home country
consumer surplus and will _____ in home country producer surplus.
Answer
Selected Answer: an increase; lead to a decrease
Correct Answer: an increase; lead to a decrease
Question 13 0 out of 1 points
In the case of nonhomogeneous goods, the imposition of an import tariff
Answer
Selected Answer: produces a transfer from consumers to producers in the domestic market.
Correct Answer: taxes the domestic product as well as the import product.
Question 14 1 out of 1 points
In the general equilibrium graph with a production-possibilities frontier (PPF) and consumer
indifference curves,
Answer
Selected Answer: a tariff reduces both real income and the gains from exchange.
Correct Answer: a tariff reduces both real income and the gains from exchange.
Question 15 0 out of 1 points
Suppose that a country's unweighted-average (nominal) tariff rate (call it tU) and weighted-
average (nominal) tariff rate (call it tW) are calculated both with and without the inclusion of
prohibitive tariffs, and that the country does in fact have some prohibitive tariffs. In this
situation, the tU that includes the prohibitive tariffs _____ the same as the tU that excludes the
prohibitive tariffs, and the tW that includes the prohibitive tariffs _____ the same as the tW that
excludes the prohibitive tariffs.
Answer
Selected Answer: would not be; would be
Correct Answer: would be; would not be
Question 16 1 out of 1 points
If increased Heckscher-Ohlin-type trade were the major factor leading to increased income
inequality in the United States, then one would expect that the relative prices of skilled labor-
intensive goods to unskilled labor-intensive goods would have _____ and that nontraded goods
industries would have _____ their use of unskilled labor relative to skilled labor.
Answer
Selected Answer: risen; increased
Correct Answer: risen; increased
Question 17 1 out of 1 points
An import quota specifies the _____ amount of a good that can be imported into a country; a
step to becoming more protectionist would involve _____ in the quota.
Answer
Selected Answer: maximum; a reduction
Correct Answer: maximum; a reduction
Question 18 1 out of 1 points
If the capital/labor ratio in import-competing industries in country A is $8,000 per worker and
the capital/labor ratio in A's export industries is $4,000 per worker, then country A's Leontief
statistic is
Answer
Selected Answer: 2.00.
Correct Answer: 2.00.
Question 19 1 out of 1 points
In the production process of a final good industry, the direct factor requirements per unit of
output will be _____ the total factor requirements per unit of output; if the industry is relatively
capital-intensive when classified by direct requirements, it _____ be relatively capital-intensive
when classified by total requirements.
Answer
Selected Answer: less than; may not necessarily
Correct Answer: less than; may not necessarily
Question 20 0 out of 1 points
In the United States, in approximately the last 2-3 decades, the supply of highly skilled (HS)
labor relative to less highly skilled (LS) labor has been rising. At the same time, the ratio of HS
labor wages relative to LS labor wages has been _____; therefore, the demand for HS labor
relative to LS labor must have been increasing _____ than the supply of HS labor relative to LS
labor.
Answer
Selected Answer: falling; less rapidly
Correct Answer: rising; more rapidly
Question 21 1 out of 1 points
Which of the following is NOT an example of a nontariff barrier to the free flow of goods and
services in accordance with comparative advantage?
Answer
Selected Answer: specific duty of $1.00 per unit on each imported item
Correct Answer: specific duty of $1.00 per unit on each imported item
Question 22 1 out of 1 points
The United States now gives China permanent most-favored-nation (MFN) treatment [or normal
trade relations (NTR)]. This means that the tariff schedules applicable to U.S. imports from
China
Answer
Selected Answer: have the same tariff rates as the rates applicable to other countries to which
the United States grants MFN treatment.
Correct Answer: have the same tariff rates as the rates applicable to other countries to which
the United States grants MFN treatment.
Question 23 1 out of 1 points
Suppose that, in a real-world situation, a labor-abundant country's tariffs and nontariff barriers
are levied relatively more heavily on labor-intensive goods than on capital-intensive goods. In
this situation, a Leontief two-factor test would, other things being equal, be _____ the country's
adherence to the Heckscher-Ohlin trade pattern, compared with a situation in which trade
barriers were absent.
Answer
Selected Answer: biased toward confirming
Correct Answer: biased toward confirming
Question 24 1 out of 1 points
If demand reversal is the explanation for the Leontief paradox, this would imply that the demand
by the United States for labor-intensive goods is relatively _____; therefore, U.S. wages would
be relatively _____ compared to wages in U.S. trading partners.
Answer
Selected Answer: low; low
Correct Answer: low; low
Question 25 1 out of 1 points
In the large-country case, the imposition of an import quota
Answer
Selected Answer: can result in a net gain for the importing country if the government employs
an auction quota system to allocate the restricted imports.
Correct Answer: can result in a net gain for the importing country if the government employs
an auction quota system to allocate the restricted imports.
Question 1 0 out of 1 points
The Krugman economies-of-scale strategic trade policy model stresses that protection given to a
home firm will, other things being equal, _____ the marginal cost of producing each level of
home output and will _____ the marginal cost of producing each level of foreign output.
Answer
Selected Answer: decrease; also decrease
Correct Answer: decrease; increase
Question 2 1 out of 1 points
In the Uruguay Round of trade negotiations, the talks originally broke down in 1990 primarily
because of the strong disagreement between the United States and the European Community
with respect to
Answer
Selected Answer: subsidies and protection in agriculture.
Correct Answer: subsidies and protection in agriculture.
Question 3 1 out of 1 points
The use of a bilateral, item-by-item approach best characterizes which period of trade