The World Trade Organization has rules that try to limit the use of tariffs but not the use of nontariff barriers (NTBs).
Answer the following statement true (T) or false (F)
False
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Certain countries remain backward because they nurture superstition and are suspicious of new technology. This argument is based on the:
A) geography hypothesis. B) location hypothesis. C) culture hypothesis. D) capital hypothesis.
A certificate of ownership and claim to part of a firm's profits is called
A) depreciation. B) a stock. C) physical capital. D) a bond. E) a certificate of deposit.
Because monopolists charge a price in excess of marginal cost, it must be the case that monopolists:
A. earn a negative economic profit. B. produce more than the socially optimal level of output. C. earn a positive economic profit. D. produce less than the socially optimal level of output.
Which of the following would most likely generate a positive externality?
A. Pollution B. Education C. Alcoholic beverages D. Roller coaster rides