The World Trade Organization is a successor organization to the
A) United Nations.
B) World Bank.
C) International Court of Justice.
D) GATT.
D
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Price ____ occurs when producers charge different customers different prices for the same good or service
a. maximization b. discrimination c. regulation d. management
When an effective price ceiling is removed, we would expect the price of the good to:
A. decrease and the quantity demanded to decrease. B. decrease and the quantity demanded to increase. C. increase and the quantity demanded to decrease. D. increase and the quantity demanded to increase.
Three major means of collusion by oligopolists are:
A. cartels, informal understandings, and price leadership. B. market sharing, mutual interdependence, and product differentiation. C. cartels, kinked-demand pricing, and product differentiation. D. informal understandings, P = MC pricing, and mutual interdependence.
Nation A's real GDP was $520 billion in 2013 and $550 billion in 2014. Its population was 150 million in 2013 and 155 million in 2014. On the other hand, Nation B's real GDP was $200 billion in 2013 and $210 billion in 2014; and its population was 53 million in 2013 and 55 million in 2014. Which of the following statements is true?
A. Nation A's real GDP growth in 2014 is higher than Nation B's B. Nation B's real GDP growth in 2014 is higher than Nation A's C. Nation A's real GDP growth in 2014 is identical to Nation B's D. Nation A's and Nation B's real GDP growth rates in 2014 are both higher than 10%