The relationship between professional basketball players and the owners' association is an example of a bilateral monopoly

The ability to use one resource to provide different products and services is

A) economies of scale. B) economies of scope. C) diversification. D) vertical integration.

Although the GATT was supported by most of the countries of the world, yet global trade shrank during the close of the last decade. This was due to:

a. growing suspicion among the nations of the world. b. hyperinflation in the major economies of the world. c. the recession which began in 2007. d. political turmoil in the Asian countries. e. the desire among the major players to dominate the international market.