Name

question 38

Short Answer

Name:

Understand the arguments for and against trade protectionism in various industries (e.g., infant industry, declining industries, national defense).

Conceptualize the effects of international trade on economic efficiency and opportunity costs.

Recognize strategies and consequences of dumping and other unfair trade practices.

Understand the characteristics and functions of forward and futures contracts.

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Definitions:

Ego

In psychology, a component of Sigmund Freud's model of the psyche that represents the self, or the part of one's identity that mediates between the desires of the id and the constraints of the social environment.

Id

A part of the mind in Freudian psychoanalysis that is responsible for instinctual desires and drives.

Libido

The energy of the sexual drive as a component of the life instinct.

Superego

In psychoanalytic theory, the part of the personality that acts as a moral center, enforcing ethical conduct and societal norms.