Use the Following Terms for This Question

question 24

Multiple Choice

Use the following terms for this question:
(X-M) = Current Account Balance
(CI-CO) = Capital Account Balance
(FI-FO) = Financial Account Balance
(I-S) = Investment-Saving Balance
FXB = Reserve Balance
BOP = balance of payments
GDP = gross domestic product
C = consumption
I = capital investment spending
G = government spending
The static equation for the BOP is:

• A) BOP = (X-M) - (CI-CO) - (FI-FO) + FXB
• B) BOP = (X-M) + (I-S) + (FI-FO) + FXB
• C) BOP = (X-M) + (CI-CO) + (FI-FO) + FXB
• D) BOP = GDP - [C + I +G] + (FI-FO)

Identify and describe key international economic organizations and their impact on global trade.

Recognize the significance of trade adjustment assistance and the debates surrounding its effectiveness.

Understand the historical and theoretical arguments against protectionism.

Gain knowledge of the scale and significance of international trade for various countries.

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Definitions:

Contrast Error

A performance rating error in which an employee’s evaluation is biased either upward or downward because of comparison with another employee just previously evaluated

Recency Error

A common mistake in performance evaluation where the most recent behavior of an employee disproportionately influences the overall assessment.

Halo Error

A bias in performance evaluations where the assessor allows one positive characteristic of the person being evaluated to influence their judgment on other unrelated characteristics.

Critical Incidents Method

A performance appraisal method that focuses on the most significant events (or incidents) involving the employee during the review period.