Which of the following is FALSE about issues/negotiations in the Doha Development agenda?
A) It is intended to deal with economic development issues and trade barriers facing developing countries that were not adequately addressed in the Uruguay Round.
B) Many developing countries are upset with the levels of tariffs and other barriers that industrialized countries use to protect agriculture, clothing and textiles.
C) Industrialized countries want developing countries to reduce their tariffs, which on average are higher than the rates of richer countries.
D) Developing countries don't use tariffs, and they want higher income countries to follow their model.
D
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When a temporary negative supply shock hits the economy ________
A) the divine coincidence does not always hold B) the divine coincidence holds in the short-run C) the divine coincidence does not hold in the long-run D) all of the above E) none of the above
If the current allocation of resources in the market for hammers is inefficient, then it must be the case that
a. producer surplus exceeds consumer surplus in the market for hammers. b. consumer surplus exceeds producer surplus in the market for hammers. c. the sum of consumer surplus and producer surplus could be increased by moving to a different allocation of resources. d. the costs that sellers of hammers are incurring could be reduced by moving to a different allocation of resources.
Automatic stabilizers are government programs or policies that will counteract the business cycle without any new government action.
Answer the following statement true (T) or false (F)
In the graph shown above, if market price were $23 there would be
A. a surplus.
B. a shortage.
C. a surplus and a shortage.
D. neither a surplus nor a shortage.