In 2003, the WTO ruled that U.S. tariffs on ________ were unfair and allowed retaliatory tariffs on U.S. products.
A. beef imported from Argentina
B. steel imported from the EU
C. diamonds imported from South Africa
D. automobiles imported from Japan
Answer: B
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The law of diminishing marginal utility is the principle that the marginal utility curve ____ as people consume more of a product in a given period
a. rises. b. falls. c. remains unchanged. d. first falls and then rises.
An investment bank is a financial institution that finances federal budget deficits at very low interest rates
a. True b. False Indicate whether the statement is true or false
Economic theory suggests that the standard of living of American workers would rise if
a. the minimum wage were doubled. b. the knowledge and skills of workers improved. c. older workers were forced to retire earlier, opening up jobs for younger workers. d. technological setbacks lowered output per worker hour, increasing the number of jobs.
A patent protects an inventor's creation from being copied or stolen for a period of
A. 100 years. B. 14 years. C. 20 years. D. 30 years.