Larger countries tend to be more globalized, because their large internal markets allow them to export a wide range of products
a. True
b. False
Indicate whether the statement is true or false
False
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Implementing a regional free-trade agreement may have an effect in which, due to reduced tariffs, a nation begins to import a product from another member country that it had previously imported from outside the new trade region. This effect is called:
a. trade creation. b. trade diversion. c. reciprocal trade agreements. d. the employment effect of FTAs.
Refer to the information provided in Figure 24.5 below to answer the question(s) that follow.
Figure 24.5Refer to Figure 24.5. At aggregate output of $2,400 billion, unplanned inventories equal $________ billion.
A. -800 B. -400 C. 200 D. 800
Refer to the information provided in Table 14.5 below to answer the question that follows. Table 14.5B's Strategy ?AdvertiseDon't Advertise??A's profit $200 millionA's profit $400 million?AdvertiseB's profit $200 millionB's profit $100 millionA's Strategy????Don'tA's profit $100 millionA's profit $150 million?AdvertiseB's profit $400 millionB's profit $150 millionRefer to Table 14.5. If both firms follow a maximin strategy, the equilibrium in the game is
A. (Advertise, Don't Advertise). B. (Advertise, Advertise). C. (Don't Advertise, Don't Advertise). D. (Don't Advertise, Advertise).
An oligopoly with a dominant price leader will produce a level of output below that which would prevail under ________ and above that which a ________ would choose in the same industry.
A. competition; monopolist B. monopoly; cartel C. monopoly; competitive industry D. cartel; competitive industry