the tradeoff for the average worker when it comes to international trade policies in specialization and comparative advantage because there is the possibility that workers could be laid off from their job.
Barriers to international trade are policies implemented by governments to prevent international trade and protect domestic markets. These include subsidies, tariffs, quotas, import and export licenses and standardization.
All agreements establishing free trade areas have the same goal of liberalizing trade, promoting economic growth, and giving member countries equal access to markets.
The WTO oversees four international trade agreements: the GATT, the General Agreement on Trade in Services (GATS), and the Agreement on Trade-Related Intellectual Property Rights and Trade-Related Investments (TRIPS or TRIMS).
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Answer:
The correct answer is letter "A": import substitution.
Explanation:
Import substitution is the strategy by which a government sets restrictions on imports so the same products being imported are consumed domestically instead of being exported. This approach is implemented to boost domestic production which increases the employment rate of a country.
<em>Protectionist countries</em> tend to impose tariffs on other countries' imports in an attempt to prioritize the industries within their borders.
Answer: C) Otto
Explanation: Unlike the general perception evidenced in the research, having inflation is not a negative event. In fact, enjoying constant and controlled price increases is a sign that the demand for households is good, which translates at the same time into a greater need for production which ultimately results in economic growth.
Answer:
firm can change output levels without having any significant effect on price.
Explanation:
In the case when we say that the firm is a price taker that means the firm has the power to change the level of an output but this does not have any kind of impact on the price. They accepted the price for the prevailing market and each unit could be sold at the similar market price. It could impact the market price also they enjoy the pricing power
Therefore the above statement should be considered