Trade liberalization has assumed two main forms. one involves the reciprocal reduction of trade barriers on a nondiscriminatory basis, as seen in the operation of the world trade organization. the other approach involves the establishment by a group of nations of regional trading arrangements among themselves. the european union and the north american free trade agreement are examples of regional trading arrangements. true or false?

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Palmer frosted flakes company offers its customers a pottery cereal bowl if they send in 3 boxtops from palmer frosted flakes boxes and $1. the company estimates that 60% of the boxtops will be redeemed. in 2012, the company sold 675,000 boxes of frosted flakes and customers redeemed 330,000 boxtops receiving 110,000 bowls. if the bowls cost palmer company $3 each, how much liability for outstanding premiums should be recorded at the end of 2012?

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