Bid-rigging is less likely in
a. oral auctions
b. English auctions
c. first-price sealed-bid auctions
d. all are equally likely
c
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If the price level rises by 5 percent and workers' money wage rates remain constant, firms'
A) quantity of labor demanded will decrease. B) quantity of labor demanded will increase. C) supply of jobs will decrease. D) None of the above answers are correct.
Certain goods are related such that an increase in the price of one good decreases the quantity demanded of the other. These goods are
A. complements. B. substitutes. C. luxury goods. D. competing goods.
The basic principle that a country should treat imports from all other countries the same way is
a. quantitative restriction b. export orientation c. most favored nation d. free-trade area e. none of the above
Participating nations in the 1997 Kyoto Protocol agreed to reduce overall greenhouse gases emission through 2020 to
A) as much as 20 percent below the levels in the 1990s. B) as much as 5 percent below the levels in the 1990s. C) as much as 50 percent below the levels in the 1990s. D) as much as 50 percent below the levels in the 1960s.