________ raised average tariff rates by over 50 percent in the United States in 1930
A) NAFTA B) The WTO
C) The GATT D) The Smoot-Hawley Tariff
D
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The introduction of new technologies to production is ________ source of productivity improvement.
A. the only B. the least important C. no longer a D. the most important
Cartels tend to break down unless they can obtain government assistance because cartel members will typically try to
A) charge higher prices than the prices agreed upon. B) include sunk costs in their prices. C) lower their costs below the agreed-upon levels. D) sell more than their quotas. E) do all of the above.
The largest sector of a developing country is usually
a. agriculture b. manufacturing c. services d. infrastructure e. none of the above
A given supply curve illustrates
A. the effect of a change in technology on quantity supplied. B. the effect of a change in resource costs on quantity supplied. C. the relationship between expected future prices and quantity supplied. D. the relationship between price and quantity supplied.