Every government's set of policies used to govern their economy:
A. are similar in most respects, but different in a few areas, making international trade sometimes difficult.
B. are largely the same, making international trade a simple process.
C. vary widely from one another, making international trade sometimes difficult.
D. vary widely from one another, making international trade a simple process.
Answer: C
You might also like to view...
In the long run, advertising by all firms in a monopolistically competitive industry
A) increases all firms' demand. B) decreases all firms' demand. C) lowers all firms' costs. D) might increase or decrease the firms' prices. E) lowers all firms' prices.
Refer to the scenario above. Which of the following is likely to be true if Joe is known to be trustworthy?
A) Multiple equilibria will occur. B) A Nash equilibrium will occur. C) A socially inefficient equilibrium will occur. D) A dominant strategy equilibrium will occur.
Monopolistic competition is inefficient because:
a. firms earn positive economic profits. b. the firms' marginal costs and marginal revenues are not equal. c. firms have excess capacity in the long run. d. entry is difficult.
Purchasing power parity shows how many units of currency are needed in one country
a. to equate its gross domestic product to the gross domestic product of another country. b. to equate its gross domestic product and its gross national product. c. to buy the same amount of output that one unit of currency buys in another country. d. to equal total purchasing power in another country.