________: a provision of the Trade Act of 1974 and its counterpart in the Trade and Competitiveness Act of 1988 that was designed to provide presidential authority to impose duties on products from nations whose trade practices were deemed "unfair" or
that restrict U.S. commerce.
Fill in the blank(s) with correct word
Section 301
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Suppose a firm doubles its output in the long run. At the same time the unit cost of production remains unchanged. We can conclude that the firm is
A. exploiting the economies of scale available to it. B. facing constant returns to scale. C. not using the available technology efficiently. D. facing diseconomies of scale.
The rate at which two currencies trade for each other is called the
A. exchange rate. B. price. C. cost. D. revenue.
The local department store might have been considered ________ before technological change.
A. a perfect competitor B. a natural monopoly C. an oligopoly D. a monopoly
Consider the following products. Which of them has the flattest demand curve?
A) insulin B) alcohol C) cigarettes D) butter