QuizMaster

Which of the following is most likely to be a variable cost for a firm ?

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Which of the following is most likely to be a variable cost for a firm ?

A. The franchiser’s fee that a restaurant must pay to the national restaurant chain
B. The payroll taxes that are paid on employee wages.
C. The monthly rent on office space that it leased for a year
D. The interest payments made on loans.

Trade creation will more likely outweigh trade diversion for Country X that forms a customs union if the level of tariffs in Country X prior to the customs union is ________ and the total number of countries forming the customs union is _________?

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Trade creation will more likely outweigh trade diversion for Country X that forms a customs union if the level of tariffs in Country X prior to the customs union is ________ and the total number of countries forming the customs union is _________?

A. relatively high; relatively large
B. relatively high; relatively small
C. relatively low ; relatively large
D. relatively low ; relatively small

Trade diversion takes place when ?

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Trade diversion takes place when ?

A. a country moves from autarky to free trade
B. a movement to a customs union reduces the costs of trade through standardization economic integration results in a
C. economic integration results in a movement in product origin to a lower cost member country
D. economic integration results in a shift in product origin from a lower-cost, nonmember country to a member country having higher costs