One result of the Uruguay Round was the formation of an organization known as the ________, which is responsible for setting trade rules and settling trade disputes between members
A) World Commercial Council (WCC)
B) World Trade Organization (WTO)
C) International Trade Organization (ITO)
D) United World Trade Council (UWTC)
B
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The oldest hamburger chain in the United States is White Castle, which was founded in 1921 . Most of their restaurants in the early days were located in urban areas. In the 1950s they lost much of their business to McDonalds and Burger King
They were slow to respond in building restaurants on highways and in suburbs. How did the advent of the highway system in the 1950s alter residential location patterns and how might this have affected the marginal revenue product of burger chains in both urban and suburban areas. Why did sales drop off in the urban areas where White Castle had earned its initial success?
Assuming instead that the market depicted in Figure 8.1 is perfectly competitive, the equilibrium price and output would be:
A) P2 and Q2. B) P1 and Q1. C) P4 and Q1. D) P3 and Q1.
__________ Theory claims that individuals seek to develop relationships that will maximize the benefits or profits and minimize the costs or deficits
a. Elbing b. Social Exchange c. Life Sciences d. Ostrich Effect
If Real GDP is $8,000, the money supply is $3,100, and velocity is 4, then the price level is
A) 1.92. B) 4.69. C) 1.55. D) 3.33.