Many individuals around the world oppose the WTO because they believe it
A. prevents young people around the world from entering the workforce as early in life as they choose.
B. unfairly favors the interests of developing countries at the expense of developed countries.
C. unfairly favors the interests of large corporations at the expense of workers.
D. encourages imposition of unnecessarily restrictive environmental protection regulations.
Answer: C
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Economic models are
A) always based on laboratory methods similar to natural sciences. B) a simplified representations of the real world. C) used only in microeconomic analysis by households. D) used only in macroeconomic analysis by business firms.
The members of the Federal Reserve's Board of Governors
a. are appointed by the president of the U.S. and confirmed by the U.S. Senate. b. serve six-year terms. c. are also the presidents of the regional Federal Reserve banks. d. share power equally, with no governor having any more influence or power than any other governor.
The example of Enron shows that
A. organizational structure is extremely important in business success. B. the success of a business is possible in a regulatory environment. C. selection of people is the key to organizational success or failure. D. large incentives play an important role in motivating people within a corporation.
Refer to Scenario 13.1 below to answer the question(s) that follow. SCENARIO 13.1: The government of Catalina Island is currently inviting investors to bid for the exclusive right to provide cable television service to its residents. The market demand for this service is P = 55 - 0.01Q, where Q is the number of households that would subscribe to the cable service and P is the monthly fee charged to the subscribers. The associated marginal revenue curve is MR = 55 - 0.02Q. Universal Entertainment is interested in bidding for the right to provide cable service on Catalina Island. It has a constant average and marginal cost of $15 for providing cable service to each household.Refer to Scenario 13.1. If Universal Entertainment were to be awarded the exclusive right to provide cable
service on Catalina Island, what price would it charge per household per month? A. $15.00 B. $27.50 C. $35.00 D. $55.00