Supporters of the World Trade Organization contend that it:
A. undermines minimum wage laws in member nations.
B. liberalizes trade among member nations.
C. imposes safeguards for worker safety in member nations.
D. weakens the environmental laws in member nations.
Answer: B
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Keynesian models involve considerable efforts to explain the determinants of
A) the money supply. B) aggregate supply. C) liquidity preference. D) the demand deposit multiplier.
A player's best response is
A) the strategy that maximizes his payoff given what he thinks the other player will do. B) a dominant strategy. C) impossible to find when there isn't a Nash equilibrium. D) a way to avoid the prisoners' dilemma.
Sam is responsible for ordering office supplies for the firm gets a bonus if the firm stays well-stocked at all times. The bonus implies he is more likely to
a. Pay lower prices for the supplies b. Pay higher prices for the supplies c. Have more stock outs d. Resign from the position
Total cost equals total variable cost plus marginal cost
a. True b. False Indicate whether the statement is true or false