The most important international trade organization is
A. the World Trade Organization.
B. the World Bank.
C. the International Monetary Fund.
D. the European Union.
Answer: A
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Use the following graph, where Sd and Dd are the domestic supply and demand for a product and Pc is the world price of that product, to answer the next question.
Sd + Q is the product supply curve after an import quota is imposed. A quota of y?w will
A. increase the revenues of domestic producers by areas E + F + G + H + J. B. increase the revenues of domestic producers by areas E + F + K. C. lower domestic price and increase domestic consumption. D. increase the revenues of domestic producers by areas G + H.
Increased foreign direct investment in India has contributed to its recent economic growth
Indicate whether the statement is true or false
Mergers are closely scrutinized by the government because
A) they might allow the firms involved to dominate the market and act as a legalized cartel (monopoly). B) they always result in a more efficient market. C) they always result in lower joint profits of the firms involved. D) all mergers are undesirable.
The paradox of thrift suggests that
A. "a penny saved is a penny earned." B. as consumption increases, saving decreases. C. the less you pay, the lower the satisfaction. D. attempts to save more may actually reduce total saving.