Due to the bandwagon effect, demand for some products is ________ elastic than it would be without the positive network externality

The General Agreement on Tariffs and Trade is an international agreement

A) that outlaws all tariffs but permits quotas. B) to encourage world trade by lowering tariffs and other trade barriers. C) to encourage world trade by lending resources to developing countries. D) between the United States and Japan that has never been ratified, resulting in several trade wars with Japan.

Arbitrage is the act of buying at one place and selling at another place in order to profit from the price differences that exist between the two places.

Answer the following statement true (T) or false (F)