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Jake is about to interact with his new roommate. Jake is white, and is worried that his African American roommate will think he is prejudiced. He is worried that he might say something that could be taken as a sign of prejudice. Jake is experiencing ____.
Factor Endowments
The various productive resources (land, labor, capital, and technology) a country possesses, influencing its economic development and trade patterns.
Tariff
A tax imposed by a government on goods and services imported from other countries to protect domestic industries or to generate revenue.
Smoot-Hawley Tariff
The U.S. tariff law of the 1930s, which set the highest tariffs in U.S. history (60 percent). It set off an international trade war and caused the decline in trade that is often considered one of the causes of the worldwide depression of the 1930s.
Export Subsidy
A governmental financial support for companies exporting products, designed to encourage exports by making them price competitive in global markets.
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