Nearly _____________ of the world's people have never made a phone call.

An agreement negotiated by two countries that places a numerical limit on the quantity of a good that can be imported by one country from another country is called

A) an import quota. B) an export quota. C) a non-tariff trade barrier. D) a voluntary export restraint.

Used cars sell for much less than new cars because

A) of imperfect competition in the automobile industry. B) buyers know much more about the quality of used cars than sellers do. C) sellers know much more about the quality of used cars than buyers do. D) physical depreciation of used cars is very high. E) of licensing arrangements by the government.