GATT's contribution to trade liberalization made possible the expansion of world trade in the second half of the twentieth century.
a. true
b. false
a. true
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How does a tariff affect the domestic price of the import, the domestic consumption, the domestic production, and the quantity imported?
What will be an ideal response?
The perfectly competitive firm maximizes profits when
A) it produces and sells the quantity at which the difference between marginal revenue and marginal cost is the greatest. B) it produces and sells the quantity at which marginal revenue and marginal cost are equal. C) it produces and sells the quantity at which the difference between average revenue and average cost is the greatest. D) it produces and sells the quantity at which the difference between price and average cost is the greatest.
If GDP growth were to increase, it would cause the labor:
A. demand curve to shift left. B. demand curve to shift right. C. supply curve to shift left. D. supply curve to shift right.
The amount of money held in checking accounts is significantly greater than money in the form of currency
a. True b. False Indicate whether the statement is true or false