Market power refers to the
a. power of a single person or small group to influence market prices.
b. ability of a person or small group to successfully market new products.
c. power of the government to regulate a market.
d. importance of a certain market in relation to the overall economy.
a
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A U.S. boycott against Mexican tuna caught in nets was
A) not upheld by the WTO on the grounds that killing dolphins in tuna nets does not harm the United States directly. B) not upheld by the WTO on the grounds that U.S. ships could still use nets to catch tuna. C) upheld by the WTO on the grounds that the use of nets to catch tuna also kills dolphins. D) upheld by the WTO on the grounds that nations can impose any environmental standards on other nations.
Which of the following is responsible for Spain's eventual decline in influence?
a. The lack of a solid foundation for its settlement efforts b. A costly war to bring the Low Countries under subjection c. The decline in gold and silver imports from America d. All of the above
The following are possible examples of price discrimination, EXCEPT:
a. prices in export markets are lower than for identical products in the domestic market. b. senior citizens pay lower fares on public transportation than younger people at the same time. c. a product sells at a higher price at location A than at location B, because transportation costs are higher from the factory to A. d. subscription prices for a professional journal are higher when bought by a library than when bought by an individual.
Which of the following statements is true?
a. World trade as a fraction of world GDP is much less than it was at the end of the 19th century. b. War decreases the pace of globalization. c. Large countries such as the U.S., Russia, and Japan have high scores in economic integration when measured against the criteria of Foreign Policy magazine. d. Poor countries tend to have high scores in the personal contact area when measured against the criteria of Foreign Policy magazine. e. The U.S. increased its international investments after the September 11, 2001 terrorist attacks to revive their economy.