The World Trade Organization (WTO) ruled that U.S. regulations on the fuel economy of cars sold by each manufacturer
A. violated the WTO rules because the imported automobiles were treated differently from domestic autos.
B. were a permissible reaction to similar regulations imposed by the Japanese government on the automobiles imported from the United States.
C. were permissible under Article XX.
D. was not an issue under its purview.
Answer: A
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The labor force is the
A) total population divided by the number of employed people. B) number of employed people plus the number of unemployed people. C) working-age population minus the number of unemployed people. D) number of employed people minus the number of unemployed people. E) number of employed people in the working-age population.
The highest fifth of all families receive approximately ____ of the distribution of annual money income among families
a. 5 percent b. 10 percent c. 25 percent d. 50 percent
A good example of _______ is the merger between a steel firm and an ice cream firm
a. a horizontal merger b. a vertical merger c. a conglomerate merger d. either a horizontal or vertical merger, depending on whether the oligopoly is balanced or unbalanced e. either a horizontal or vertical merger, depending on the market shares of the two companies
The idea behind comparative advantage in international trade reflects the possibility that one of the trading nations: a. may be able to produce everything relatively more efficiently than the other nation. b. may be able to produce something at a lower dollar cost than the other nation
c. may be able to produce a larger variety of goods than the other nation. d. may be able to produce something at a lower opportunity cost than the other nation.