If the United States has reason to believe that the trade policies of another country violate the GATT, then to which organization do they send their complaint?
A. the World Trade Organization (WTO)
B. the International Monetary Fund (IMF)
C. the United Nations (UN)
D. the World Bank (WB)
Answer: A
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The short-run break-even price is the point at which
A) price is less than marginal cost. B) marginal cost, average total cost and marginal revenue are all equal. C) average variable cost is at a minimum. D) marginal cost, price and average variable cost are all equal.
When deciding what to use as money, one characteristic to look for is the:
A. stability of value. B. shape. C. intrinsic value. D. exchange value
Additional firms often do not try to compete with a natural monopoly because
a. they fear retaliation in the form of pricing wars from the natural monopolist. b. they are unsure of the size of the market in general. c. they know they cannot achieve the same low costs that the natural monopolist enjoys. d. the natural monopoly does not make a large profit.
A positive supply shock causes ________ to ________
A) aggregate demand; increase B) aggregate demand; decrease C) short-run aggregate supply; decrease D) short-run aggregate supply; increase