If Happy Campers advertises a 120 day low-price guarantee that will refund any of its customers the difference between the price they paid for a camper and a lower price offered by Happy Campers for the same camper, this is an example of ________.

Trade agreements made prior to WWII and prior to the establishment of GATT and its new guidelines, were based on which principle?

a. reciprocity b. nondiscrimination c. quota d. most favored nation

Redistributing income from the rich to the poor creates inefficiency because

A) of wasteful expenditures by people receiving welfare grants. B) of the administrative costs to operate the government redistribution agencies. C) the redistribution creates an incentive to produce less output. D) Both answers B and C are correct. E) Both answers A and C are correct.