The World Trade Organization (WTO) promotes foreign trade and investment, or globalization. In recent years opposition to globalization has led to violent protests at meetings of the WTO. One reason for these anti-globalization protests is
A) protesters believe that free trade destroys the distinctive cultures of many countries.
B) protesters believe that globalization will result in a return to communism in developing countries.
C) protesters object to the loss of intellectual property (such as software programs and movies) that results from foreign trade and investment.
D) foreign trade and investment are examples of zero-sum games.
A
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A less-developed country would probably use ___________ to argue for trade restrictions
a. national security b. infant industry c. protection of workers from cheap foreign labor d. antidumping e. increased efficiency
Figure 18-2
Figure 18-2 shows the widget market before and after an excise tax is imposed. What percentage of the tax per widget is borne by consumers, considering the true economic incidence of the tax?
A. 0 percent B. 20 percent C. 50 percent D. 80 percent
According to the following figure, marginal revenue is zero at Q = ________.
A. 1,000 units B. 2,000 units C. 3,000 units D. 4,000 units E. none of the above
If the MPC is 0.75, then the multiplier is 4.
Answer the following statement true (T) or false (F)