By how much did the Doha round of negotiations increase the world economy per year?
a. $100 to $150 billion
b. $150 to $200 billion
c. $200 to $250 billion
d. $165 to $385 billion
d. $165 to $385 billion
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In a bilateral monopoly, the wage rate is likely to be ________ than the value of marginal product of labor and ________ than in a pure monopsony
A) lower; lower B) lower; higher C) higher; lower D) higher; higher
When no property rights exist
A) no one has an economic incentive to care for common property, and an externality may well occur. B) there will be no production. C) externalities will be internalized by voluntary arrangements among a small group of parties. D) society will produce beyond the production possibilities frontier, but the allocation of resources is not apt to be optimal.
Helen's Honey Hut supplies 20 jars of honey per week when the price of honey is $6 per jar and supplies 30 jars per week when the price of is $8 per jar, so the price elasticity of supply over this price range is 1.4
a. True b. False Indicate whether the statement is true or false
A union can influence the demand for labor by:
A. requiring union fees. B. raising union fees. C. effective advertising that convinces customers to buy the "union label." D. lobbying for legislation to reduce immigration.