According to the text, approximately how many countries are members of the WTO?
A) 100
B) 135
C) 150
D) 180
C
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Tobacco companies did not resist the advertising ban instituted in 1970 because they actually increased profits by not being allowed to advertise
This ban forced these companies to abandon their dominant strategy of advertising and wind up at a cooperative outcome of not advertising. Prior to the ban, the tobacco companies were involved in playing A) a pure coordination game. B) a prisoner's dilemma game. C) an assurance game. D) a battle of the sexes game.
NAFTA refers to a 1994 agreement that eliminated most tariffs among which countries?
A) the United States, Mexico, and Cuba B) the United States, the United Kingdom, and Mexico C) Canada, the United Kingdom, and Mexico D) the United States, Canada, and Mexico
Individuals face scarcity; whole societies do not
a. True b. False Indicate whether the statement is true or false
If two countries have production possibilities curves with different slopes, there is no possibility for gains from trade
a. True b. False Indicate whether the statement is true or false