Requiring Foreign Banks to Operate Under the Same Rules as Domestic

question 13

Multiple Choice

Requiring foreign banks to operate under the same rules as domestic banks is termed

• A)favored status.
• B)IBA clause.
• C)national treatment.
• D)NAFTA.
• E)post-patriotism requirement.

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Definitions:

Comparative Advantage

The ability of an individual or country to produce a particular good or service at a lower opportunity cost than its competitors.

Standard Of Living

The level of wealth, comfort, material goods, and necessities available to a certain socioeconomic class in a certain geographic area.

Natural Resources

Materials or substances such as minerals, forests, water, and fertile land that occur in nature and can be used for economic gain.

Standard Of Living

The degree of prosperity, convenience, and access to material possessions and basic needs experienced by an individual, community, or society.