The WTO Has Encouraged Nations to Replace Their Import Quotas

question 81

Multiple Choice

The WTO has encouraged nations to replace their import quotas with tariffs. Why?

• A) Quotas are more difficult to administer for the customs people.
• B) Quotas are more discriminatory.
• C) Quotas hurt domestic firms more than tariffs.
• D) Quotas result in larger losses than tariffs with equivalent protection.

Understand the concept of learned helplessness and self-fulfilling prophecies.

Grasp the different types of cognitive biases and heuristics.

Recognize the impact of locus of control on individuals' perceptions and behaviors.

Identify and understand various attribution errors and biases.

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Definitions:

Trial-And-Error

A problem-solving method involving repeated, varied attempts which are continued until success, or until the agent stops trying.

Chronological Age

The actual age of a person measured in years from birth to a given date.

Intelligence Test

A standardized assessment designed to measure human intelligence and cognitive abilities.

Actual Age

The exact chronological age of an individual, usually expressed in years.