Figure 6.5 shows the short-run and long-run effects of an increase in demand of an industry. The industry is:
A. a constant-cost industry.
B. an increasing-cost industry.
C. a decreasing-cost industry.
D. There isn't sufficient information.
Answer: B
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In the prisoner's dilemma:
A. a cooperative win-win outcome can be predicted. B. a dominant strategy exists for only one player. C. a non-cooperative outcome is predicted. D. All of these statements are true.
International trade policies are largely advocated, argued, and lobbied for based more on their distributional effects than on their aggregate or overall effects. What does this imply?
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The WTO allows trade protection to protect endangered species
Indicate whether the statement is true or false