What is the main problem with imposing environmental standards quizlet?
What is the main problem with imposing environmental standards? Country differences in income and preferences complicates the definition of appropriate standards. Differences in income and preferences make the optimal set of environmental standards variable by country.
What is the main problem with imposing labor standards?
What is the main problem with imposing labor standards to prevent child labor and poor working conditions in the exporting sector of a less-developed country? less-developed countries are opposed to them.
Why do critics of trade want to use trade barriers to enforce environmental regulations?
Why do critics of trade want to use trade barriers to enforce environmental regulations? higher environmental standards requirements raise the cost of production to a firm or industry abiding by the rules. … it is more efficient to address these problems at the production and consumption level.
What are ways to realize the benefits of trade and resolve standards conflicts?
What are ways to realize the benefits of trade and resolve standards conflicts? Require labels for exports. Used home country standards for home country firms operating in a foreign country. Use international organizations as a forum for negotiations.
What is a labor standard?
A labor standard is the average amount of time it takes the average worker to perform a task correctly.
What are the three ways for countries to handle different standards abroad do standards have to be the same for countries to be integrated?
The three ways for countries to handle different standards are harmonization, mutual recognition, and seperate standards. Countries do not have to have the same standards to be economically integrated.
Is the claim that environmental standards reduce industrial competitiveness valid?
Is the claim that environmental standards reduce industrial competitiveness valid? Yes, because environmental standards raise costs to businesses. it is a comprehensive measure, since it addresses the problem of production in foreign firms as well as firms from highminus−standards countries that relocate abroad.
What are the two sophisticated arguments for activist trade policy?
many countries pursuing this strategy experienced stagnation in their growth. What are the two sophisticated arguments for activist trade policy? Monopoly profits and Knowledge spillovers.
What is the International Trade Commission ITC quizlet?
What is the International Trade Commission (ITC)? A U.S government agency that evaluates the economic impact of low-priced foreign goods.
How can environmental issues have an impact on international trade?
Consequences from climate change can disrupt trade
More importantly, climate change is expected to decrease the productivity of all production factors (i.e. labor, capital and land), which will ultimately result in output losses and a decrease in the volume of global trade.
What are the disadvantages of trade barriers?
Trade barriers, such as tariffs, have been demonstrated to cause more economic harm than benefit; they raise prices and reduce availability of goods and services, thus resulting, on net, in lower income, reduced employment, and lower economic output.
What are the pros and cons of trade barriers?
Advantages to trade protectionism include the possibility of a better balance of trade and the protection of emerging domestic industries. Disadvantages include a lack of economic efficiency and lack of choice for consumers. Countries also have to worry about retaliation from other countries.