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The Static Welfare Effects Resulting from the Formulation of Customs

question 52

Multiple Choice

The static welfare effects resulting from the formulation of customs unions are measured by the extent to which it leads to ___________ and ____________.


Definitions:

Similarity

The state of being alike or sharing common features, often leading to attraction or cohesion in social relationships.

Self-Serving Bias

A common tendency to attribute one's successes to personal characteristics and failures to external factors.

Situational Attribution

The process of attributing a person's behavior to external or environmental factors, rather than to internal dispositions.

Self-Fulfilling Prophecy

A belief or expectation that influences a person to act in ways that cause the belief to become true.

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