Deep integration
A) is easier to achieve than shallow integration.
B) is less controversial than shallow integration.
C) does not require changing domestic policies unrelated to tariffs and quotas.
D) requires cooperation with other national governments or international bodies.
E) can be implemented unilaterally.
D
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Bart is seen standing in front of the cooler that contains containers of iced tea and lemonade. Moments later, we see Bart drinking iced tea, and we conclude Bart is getting more utility from that drink than lemonade. We drew that conclusion based on what economic concept?
A. Revealed preference B. Utility minimization C. Satisfaction scales D. Rational behavior
Which of the following conditions would result in the short run marginal cost curve not correctly reflecting the supply behavior of a profit maximizing firm?
a. The firm is a price taker. b. Price exceeds average total cost. c. The elasticity of demand facing the firm is ?3. d. the firm can vary several inputs in the short run.
Assume you are lending money to a friend for a year and want to earn real interest of 5 percent on the loan. If you believe the inflation rate the next year will be 3 percent, you should charge your friend a nominal interest rate of
a. 5 percent b. 8 percent c. 3 percent d. 15 percent e. whatever he will pay
A restaurant hires cooks and waiters. Cooks earn $10 an hour; waiters earn $5 an hour. The manager, who wants to maximize the number of meals served given a fixed payroll of $45 per hour, expects the following from cooks and waiters: 
Given the above information, and given the fixed payroll, the maximum number of meals that can be served is
A. 670. B. 850. C. 1,130. D. 240. E. none of the above