Which concept do some scholars use to explain the growth in free trade after World War II?
a. regionalization
b. voluntary export restraint
c. embedded liberalism
d. hegemonic stability
d. hegemonic stability
You might also like to view...
The figure above shows the demand curve, marginal revenue curve, and marginal cost curve. The deadweight loss when the market has a monopoly producer is
A) ace. B) abf. C) bcd. D) bcef. E) acd.
Any competitive equilibrium is Pareto efficient because with a competitive equilibrium,
A) the marginal rates of substitution are equal for all consumers. B) the price line is the contract curve. C) mutual gains from trade exist. D) the slope of the price line equals the ratio of the MRS for all consumers.
The short-run supply curve of a perfectly competitive firm is: a. the average variable cost curve
b. the average total cost curve. c. the same as the demand curve. d. marginal cost above average variable cost.
A price ceiling is
a. often imposed on markets in which "cutthroat competition" would prevail without a price ceiling. b. a legal maximum on the price at which a good can be sold. c. often imposed when sellers of a good are successful in their attempts to convince the government that the market outcome is unfair without a price ceiling. d. All of the above are correct.