HTML Is Called a Markup Language Because Authors Mark Up

question 136

True/False

HTML is called a markup language because authors mark up their documents by inserting special instructions, called HTML tags, that specify how the document should appear when displayed on a computer screen.

Recognize the arguments for and against protectionism in international trade.

Differentiate between the concepts of import and export in the context of trade balance.

Grasp how income changes can affect the demand for imports in a country.

Understand the theory of comparative advantage and its implications for free trade.

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Definitions:

System 2

A term often used in behavioral economics, referring to slow, deliberative, and analytical thinking, contrasted with fast, instinctive, and emotional 'System 1' thinking.

Neoclassical Assumption

Underlying principles of neoclassical economics that include rationality, individuals maximizing utility, firms maximizing profits, and markets tending toward equilibrium.

Rational Behavior

Human behavior based on comparison of marginal costs and marginal benefits; behavior designed to maximize total utility. See rational.

Cognitive Biases

Systematic patterns of deviation from norm or rationality in judgment, whereby inferences about other people and situations may be drawn in an illogical fashion.