When the evolution of new technologies is unknown, or it is unclear which country has the "best" rules for standards, the adoption of ________ is the superior option
A) a harmonization of standards
B) separate standards
C) mutual recognition standards
D) larger country standards
C
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The firm depicted in Figure 8.1 is:
A) earning a positive economic profit. B) incurring an economic loss and should shut down. C) incurring an economic loss but it should continue to operate in the short run so long as price exceeds average variable costs. D) earning a zero economic profit.
Television stations have seemingly synchronized their commercial breaks. This is likely an example of
A) tacit collusion. B) explicit collusion. C) mixed strategies. D) pure strategies.
The sequence of events following a contractionary monetary policy would be higher interest rates followed by dollar
a. depreciation, higher exports, and lower imports. b. depreciation, lower exports, and higher imports. c. appreciation, lower exports, and higher imports. d. appreciation, higher exports, and lower imports.
Tariffs can be thought of as indirect:
A. subsidies to domestic producers. B. subsidies to foreign producers. C. special taxes on domestic producers. D. subsidies to domestic consumers.