Many regional trade agreements include other provisions that are not part of the treaty, but they are add-ons that might be important to trade issues. These are called:

Let D= demand, S = supply, P = equilibrium price, and Q= equilibrium quantity. What happens in the market for tropical hardwood trees if the governments restrict the amount of forest lands that can be logged?

A) D no change, S decreases, P increases, Q increases. B) D decreases, S no change, P and Q decrease. C) S decreases, D no change, P increases, Q decreases. D) D and S decrease, P and Q increase.

Which of the following is not an example of a barrier to entry?

a. A soybean farmer is the first in her county to use a new brand of fertilizer. b. Microsoft obtains a copyright for its Windows operating system. c. A pharmaceutical company obtains a patent for a new medication to treat migraine headaches. d. A taxi cab driver in New York City obtains a license to legally provide transportation in New York City.