Groups of nations that grants members trade privileges are called
A) local trade protectionists.
B) trade settlements.
C) regional trade blocs.
D) allies.
C
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Suppose that producers are richer than consumers. Is a price support program fair? Explain your answer
What will be an ideal response?
In the prisoner's dilemma game:
A. there is a dominant strategy for a player depending on what the other player does. B. there is a dominant strategy for only one player. C. there is a dominant strategy for both players. D. there is no dominant strategy for either player.
The law of demand is derived under the assumption of
A) constant prices. B) constant real incomes. C) constant consumer tastes and preferences. D) constant marginal utility.
If, at some level of output, total planned real expenditures are greater than real Gross Domestic Product (GDP)
A. real GDP will either fall or remain unchanged, depending on the MPC. B. real GDP will fall. C. real GDP remains unchanged. D. unplanned inventories will decrease.