The WTO and GATT promote trade by:
A. reducing tariffs.
B. eliminating quotas.
C. reducing agricultural subsidies.
D. All of these.
Answer: D
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The charitable organization Creating Hope International trains women in Afghanistan to become tailors. This effort reduces
A) entrepreneurship differences between advanced and developing economies. B) human capital differences between advanced and developing economies. C) physical capital differences between advanced and developing economies. D) agricultural differences between advanced and developing economies. E) manufacturing differences between advanced and developing economies.
In the long-run production function, all of the inputs to the production process are allowed to vary
Indicate whether the statement is true or false
Suppose you are the manager of Good Smells, a home fragrance firm. To make your fragrance, you purchase orange peels from orange juice manufacturers. If the demand for orange juice decreases, this will cause the production of orange juice peels to ________ and the price of orange juice peels to ________.
A) decrease; fall B) increase; fall C) increase; rise D) decrease; rise
Which of the following would likely be an example of a monopolistic industry?
a. fast-food restaurants b. cell phone service c. auto manufacturing d. none of the above