Dumping refers to selling a product abroad for less than the cost of production
a. True
b. False
A
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Which of the following is entrusted with the responsibility of settling trade disputes between countries?
a. The European Union b. The International Monetary Fund c. The World Trade Organization d. The International Labor Organization e. The United Nations Organization
The table below shows a competitive firm's short-run production function. Labor is the firm's only variable input, and market price for the firm's product is $2 per unit.
If market price for the firm's product increases to $5, how many units of labor will the firm employ at a wage rate of $200?
A. 0, the firm shuts down B. 4 C. 5 D. 6 E. 7
According to the quantity theory of money, if the money supply is growing at a rate of 5 percent, real GDP is growing at a rate of 2 percent, and velocity is constant, what will the inflation rate be?
What will be an ideal response?
An example of ________ is a power plant generating water pollution.
A. the free-rider problem B. a negative production externality C. a public good D. a positive production externality