The system of trade rounds under GATT and the WTO has been successful at creating trade rules and reducing trade barriers
Indicate whether the statement is true or false
TRUE
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In the United States and other high-income countries, capital's share and labor's share of total income have been about ________, respectively
A) 1/2 and 1/2 B) 4/5 and 1/5 C) 1/3 and 2/3 D) 3/4 and 1/4
By referring to Figure 7-1, an increase in the money stock
a. shifts the LM schedule to the right from LM0 to LM1. b. shifts the LM schedule to the left from LM0 to LM2. c. leaves the LM curve unchanged at LM0. d. shifts neither the IS nor the LM schedule.
Price fixing is an agreement among competing managers to ________ the prices of the products they are selling or to ________ the prices of the inputs they are buying.
A) raise; lower B) raise; raise C) lower; raise D) lower; lower
Regulators employ average cost pricing instead of marginal cost pricing because
A) average cost pricing is more efficient than marginal cost pricing. B) price must be high enough to cover all opportunity costs if the firm is to stay in business. C) the price is lower with average cost pricing. D) average cost pricing is simpler to compute than marginal cost pricing.