The WTO's Doha Development Agenda is only considering market access issues in agriculture, such as tariffs and quotas, because export subsidies and production subsidies are considered less harmful and have not been part of the GATT or WTO agenda
Indicate whether the statement is true or false
FALSE
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The demand for microwaves in a certain country is given by: D = 8,000-30P, where P is the price of a microwave. Supply by domestic microwave producers is: S = 4,000 + 10P. Suppose the economy is closed. The equilibrium price of a microwave is ________ and equilibrium quantity is____.
A. $100; 5000 B. $125; 4000 C. $50; 8000 D. $75; 6000
How can diversification reduce idiosyncratic risk but not systematic risk?
What will be an ideal response?
The law of diminishing marginal returns
A) implies that the marginal product of labor must fall. B) requires using superior technology to increase output. C) means that total output will always fall. D) None of the above.
The Federal Reserve District Banks are owned by
A. the federal government. B. a combination of state governments and the federal government. C. the board of governors. D. their member banks.