AMR

question 9

Multiple Choice

AMR

• A)Calls for prescreening of containers when entering the U.S.
• B)Require detailed cargo data before the cargo enters or leaves the U.S.
• C)Allows for low-risk goods transported by trusted carriers for trusted firms to pass rapidly through border crossings
• D)Seeks to advance certify selected shippers through self appraisals of security procedures coupled with customs audits and verifications

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Definitions:

Inefficient Allocation

When resources are not optimally distributed, leading to a situation where it is possible to improve at least one person's well-being without worsening any other's situation.

External Effects

Consequences of economic activities on unrelated third parties; can be positive (benefits) or negative (costs).

Knowledge Creation

The process through which new ideas, information, and understanding are generated, often leading to innovation and improvements in technology or methodology.

Public Good

A good that is non-excludable and non-rivalrous, meaning it can be used by many people simultaneously without reducing the amount available to others.