The WTO's intervention against clean air standards
A) has earned it universal approval.
B) was done in order to limit national sovereignty.
C) has resulted in much criticism.
D) has resulted in much criticism among professional economists.
E) was championed in developing countries.
C
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Which of the following would most likely shift the supply curve to the left for Wii video games?
a. an increase in the price of Wii video games b. a decrease in the price of computer chips used to make Wii games c. a decrease in the demand for Wii games d. an increase in the price of electronic components used to produce the Wii games
An individual's labor-supply curve reveals how he or she chooses to allocate
a. limited dollars between luxuries and necessities. b. scarce money between goods and services. c. scarce time between labor and leisure. d. limited time between work at one job and work at another.
The cost of inflation to society includesI.The opportunity costs of resources used by people to protect themselves against inflationII.The costs associated with recalculating prices
A. I only B. II only C. Both I and II D. Neither I nor II
Which of the following activities is most likely to be considered rent seeking?
a. buying an apartment building b. hiring a lobbyist c. voting for a politician who supports government spending d. buying common stock