Assume that global recession causes the quantity of tin demanded to decrease by 4 million pounds at each price To maintain the price of tin at the target price you would ? A. sell 4 million pounds of tin B.…
Assume That the firms operate as purely competitive sellers (a purely competitive industry) In the long run, equilibrium price equals _________ quantity equals _________ and profits total _________? A. $100, 2 million barrels per day $60 million B. $80, 4…
Which of the following organizations primarily provides long-term loans to develog countries to help them develop their infrastructure such as schools hospitals and roads ? A. World Bank B. International Monetary Fund C. Council on Foreign Relations D. Organization of…
The People’s Republic of China ? A. is the first of the East Asian countries to be recognized for a successful outward-oriented development strategy B. has retained to the present time its strategy of import substitution as a source of…
The OPEC oil cartel ? A. has shown that is easy to achieve cooperation among cartel members B. was successful in raising oil prices in the 1970s but was disbanded in the 1980s C. has shown greater success in realizing…
Economic growth occurs because ? A. labor forces increase B. capital stocks increase C. new inventions increase productivityD. All of the above
Suppose that the supply curve of tin is highly inelastic. If the demand curve of tin decrease and increase cyclically along the supply curve of tin, then in this market the size of the quantity fluctuation will bathe size of…
Suppose that the world price of tin is above the target (ceiling) price that is defined by an international commodity agreement. To move the world price toward the target price, a buffer stock agreement would require its buffer stock manager…
The Generalized System of Preferences (GSP) program allows ? A. develog country export to advanced countries to receive preferential tariff treatment B. develog country imports from advanced countries to receive preferential tariff treatment C. any develog country to ignore the…
Develog countries that emphasize the production of raw materials or agricultural goods may realize a long-run deterioration in the international terms of trade because of ? A. relatively low import tariffs maintained by advanced countries B. highly elastic demand for…