Beginning in the Late 1970s and into the 1980s, the US

question 29

True/False

Beginning in the late 1970s and into the 1980s, the US transportation industry was deregulated. The net result was a less competitive environment.

Recognize the role of tariffs and their impact on trade.

Identify how international trade affects the economic well-being of a country.

Understand the principles behind the gain and loss from international trade.

Grasp the effects of being a price taker in the global economy on small countries.

---

Definitions:

Constant Allowances

Fixed sums or quantities that are allocated regularly, such as allowances in budgets or time estimations in project management.

Performance Rating

A quantitative assessment often used to evaluate the efficiency, output, or success of an individual, system, or organization in achieving its objectives.

Normal Time

The average time that a worker takes to complete a specific task under normal working conditions, considering both productive and unproductive time.

Standard Time

indicates the amount of time that should be taken to complete a particular job or task, typically determined through time studies and used for planning and benchmarking.