Refer to the game between James and Theodore depicted in Figure 12.1. Who has a dominant strategy?
A. Only James
B. Only Theodore
C. Both James and Theodore
D. Neither James nor Theodore
D. Neither James nor Theodore
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What is MFN status? How does the WTO reconcile the principle of equal treatment with the preferential treatment created by regional trade agreements?
What will be an ideal response?
Compared to high-income countries, low-income countries might have an advantage in achieving greater worker productivity because low-income nations have:
a. many opportunities to make use of existing technologies b. an abundant supply of natural resources. c. an abundant supply of skilled and unskilled labor. d. more entrepreneurial opportunities than high-income countries.
A bowed production possibilities curve is consistent with
A) a decreasing opportunity cost. B) a technologically inefficient society. C) the overutilization of productive resources. D) highly specialized resources.
An effluent fee is an example of:
A. a market incentive policy. B. a direct regulation of pollution. C. a tax incentive policy. D. a voluntary approach to pollution.