The proposal that trade agreements should include a system which monitors worker conditions and make the results available to consumers in the rich importing country
A) is consistent with the Invisible Hand paradigm.
B) is consistent with the market failure approach.
C) is consistent with the Ricardian theory of comparative advantage.
D) is consistent with the scale economies approach to trade theory.
E) is consistent with the principles laid out by the WTO.
B
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An upward-sloping supply curve suggests that producers
A) sell less at higher prices. B) sell more at lower prices. C) plan to sell more at a given, higher price. D) ignore marginal costs of production, and only focus on the demand for their product.
Steve buys Pepsi at $.60 per can and orange juice at $1.20 per can. In consumer equilibrium,
a. orange juice would yield a higher marginal utility per dollar spent than Pepsi would b. he will consume twice as much Pepsi as orange juice c. he will consume more orange juice than Pepsi d. total utility from orange juice is twice that from Pepsi e. his last can of orange juice would generate a higher marginal utility than his last can of Pepsi