The primary purpose of WTO is to:
A. protect the United States from cheap foreign labor.
B. foster trade among nations.
C. promote the dumping of foreign products.
D. increase worldwide tariffs.
Answer: B
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To calculate the revenue government receives when a tax is imposed on a good, multiply the
A) pre-tax equilibrium price by the pre-tax quantity. B) after-tax equilibrium price by the after-tax quantity. C) tax by the pre-tax quantity. D) tax by the after-tax quantity. E) after-tax equilibrium price by the after-tax quantity and then subtract the pre-tax equilibrium price multiplied by the pre-tax quantity.
Other things equal, a monopolist will hire
A) more workers than a perfectly competitive industry. B) fewer workers than a perfectly competitive industry. C) more workers than a perfectly competitive firm. D) the same number of workers as a perfectly competitive industry would.
The total cost curve is the sum of the:
a. total fixed and total variable cost curves. b. total fixed and marginal cost curves. c. marginal cost and total variable cost curves. d. none of these.
Microsoft has been accused of violating an antitrust law pertaining to bundling.
Answer the following statement true (T) or false (F)