All of the following are reasons countries may be unable to use discriminatory trade practices to enforce labor standards EXCEPT
A) countries can never impose trade barriers on other sovereign nations.
B) the WTO requires nations to treat other nations the same.
C) a single country may be unsuccessful in convincing members of its trading block to participate in imposing the sanctions.
D) retaliation or a full blown trade war might result.
A
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Essential goods give rise to corner solutions.
Answer the following statement true (T) or false (F)
Refer to Figure 14-1. If Lexus lowers its price, will this deter BMW from entering the market?
A) Yes, because BMW will make a smaller profit than Lexus if it chooses to compete. B) No, because BMW will be able to break Lexus' first-mover advantage. C) No, because BMW will still make a profit of $120 if it competes with Lexus. D) Yes, because BMW stands to lose $100 million if it competes with Lexus.
Decreases in autonomous spending cause rightward shifts of the aggregate demand and supply curves
Indicate whether the statement is true or false
Suppose that under its collective bargaining agreement, the XYZ Co can only hire union members in good standing at the time of hiring. XYZ Co is
A) a union shop. B) a closed shop. C) an open shop. D) a company union.