An increase in demand for laptop computers would likely be caused by
A. an increase in the price of a complementary good.
B. an increase in the price of laptop computers.
C. a decrease in the price of laptop computers.
D. an increase in the price of a substitute good.
Answer: D
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The principle of minimum differentiation
A) results in political parties proposing very similar or possibly identical policies. B) refers to the tendency of competitors to make themselves different in order appeal to the maximum number of clients or voters. C) explains why Burger King, Wendy's, and other fast food restaurants tend to locate far away from each other. D) None of the above answers are correct.
Developing countries are usually unwilling to negotiate over labor standards because
A) the WTO always tends to rule in favor of industrialized nations. B) they fear that industrialized nations are trying to undermine their comparative advantage—production of agriculture and textiles/apparel—and close the markets of high-income countries in these areas. C) they fear that they may be unable to compete without some protection of their industries. D) they don't have a comparative advantage in any good at all. E) organized labor would not allow them to negotiate with other countries.
Preferential trade agreements have a beneficial trade-diversion effect when they reduce prices for traded goods and stimulate the volume of international trade
a. True b. False Indicate whether the statement is true or false
What are the functions of the Board of Governors of the Federal Reserve System?