General agreement on tariffs and trade
Course:- Business Economics
Reference No.:- EM13795698

Assignment Help
Assignment Help >> Business Economics

In the 1950s, imports and exports of goods and services constituted roughly 4% to 5% of U.S. GDP. In recent years, exports have accounted for approximately 12% of GDP, while imports have more than tripled to over 15% of GDP.

Which of the following help to explain the increase in international trade and finance since the 1950s? Check all that apply.

An increasing number of import quotas

Better high-speed rail lines

Improvements in telecommunications

International trade agreements such as the General Agreement on Tariffs and Trade (GATT)

Put your comment

Ask Question & Get Answers from Experts
Browse some more (Business Economics) Materials
Consider a small country that is an exporter of good X. Suppose the government imposes a tariff on imports of good X. Using one graph, showing demand and supply of good X in t
"As vice president of sales for a rapidly growing company, you are grappling with the question of expanding the size of your direct sales force (from its current level of 60
A profit maximizing monopolist is earning a positive economic profit. The wage it pays its workers rises. How will the firm's choice of price and quantity change in response t
Is the online book retail industry qualified as a perfectly competitive market by the four market characteristics listed in the lecture note? If not, what characteristic(s) is
Economic history since the industrial revolution [in the United States] strongly suggests that technical learning, not the process of perfect competition, drives growth over t
Elmo finds himself at a Coke machine on a hot and dusty Sunday. The Coke machine requires exact change—two quarters and a dime. No other combination of coins will make anythin
Why invest capital in purely competitive industries with equilibrium margins that are razor thin and entrants that erode quasi- profits? Suppose volume is not exceptionally la
Discuss how changes in household disposable income, housing and stock wealth, and debt-generated movements along and shifts in the U.S. saving function. Explain these effec