The most important international trade organization is
A) the World Bank.
B) the World Trade Organization.
C) the International Monetary Fund.
D) the European Union.
Answer: B
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Which of the following advertising statements could be considered greenwashing?
A) "Made of only recycled materials" B) "Our lasagna is made with love." C) "100 percent money back guarantee" D) "Guaranteed to make you want to dance!"
Vertical contracts that aim to decrease retailer prices typically
a. Benefit the consumer and the manufacturer but hurt the retailer b. Benefit the manufacturer and retailer but hurt the consumer c. Benefit the retailer and consumer but hurt the manufacturer d. Benefit the manufacturer, retailer and consumer
A nation has an unfavorable balance of trade when
a. it has a surplus in its balance of payments b. it has a deficit in its balance of payments c. the value of its imports of goods is greater than the value of its exports of goods d. its current account is in surplus and its capital account is in deficit e. it has high tariffs
Answer the next question on the basis of the following information about the opportunity costs of two products-fish (F) and chicken (C)-in countries Singsong and Harmony. Assume that production occurs under conditions of constant costs and these are the only two nations in the world. Finally, the opportunity costs of fish in terms of chicken are: Singsong: 1F = 2C. Harmony: 1F = 4C If these two nations specialize based on comparative advantage, then
A. Singsong will produce chicken and Harmony will catch fish. B. Harmony will both produce chicken and catch fish. C. Singsong will both produce chicken and catch fish. D. Harmony will produce chicken and Singsong will catch fish.