A. Monopolized shop
B. Monopolized area
C. Closed shop
D. Monopolized market
Related Mcqs:
- 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 - Different workers or group of workers separate the production works and trade into__________processes. What this separation is called?
A. Divided Labor
B. Closed shop
C. Division of Labor
D. Open shop - When free trade areas are set up the member countries trade with each other grows faster than their trade with other countries This is due to what economist call ?
A. trade diversion
B. trade channeling
C. trade creation and trade diversion
D. trade creation - When imports from a higher-cost supplier within a customs union replace imports from a lower-cost supplier outside the custom union, there exists ?
A. trade creation
B. trade diversion
C. dynamic welfare effects
D. comprehensive welfare effects - If the total product of two workers is 80 and the total product of 3 workers is 90 then the average product of the third worker is ________ and the marginal product of the third worker is _________?
A. 160; 270
B. 10; 30
C. 10; 3.33
D. 30; 10 - Which of the following is not true with regard to workers who have a high value of marginal product? These workers ?
A. have skills that are in relatively scarce supply
B. produce output for which there is great demand
C. usually have little capital with which to work
D. are usually highly paid - Economists have hypothesized that the widening gap between the wages of unskilled workers and skilled workers may be due to ?
A. decrease in the demand for unskilled workers because of increases in technology and increases in international trade
B. increase in the number of unskilled workers available due to immigration into the UK.
C. decrease in the demand for unskilled workers are more poorly educated
D. increase in the number of unskilled workers available because workers are more poorly educated - Which of the following help explain why firms pay bonuses to workers during particularly profitable years to prevent workers from becoming disgruntled ?
A. people are rational maximizers
B. People are reluctant to change their minds
C. People are inconsistent over time
D. People care about fairness - Suppose that tomatoes from Mexico face a 20 percent tariff in the United States and a 25 percent tariff in Canada. If the United States and Canada maintain free trade between each other, the these two countries belong to a ?
A. free-trade area
B. customs union
C. common market
D. monetary union - How is termed equal rights of trade of trade without giving monopolies or preferences to an individual country ?
A. Open door market
B. Open door country
C. Open sky market
D. Free economy
