Refer to Figure 6-4. The inelastic segment of the demand curve
A) is coincident with the horizontal axis. B) lies below the midpoint of the curve.
C) lies above the midpoint of the curve. D) is coincident with the vertical axis.
B
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If a violation of international law is found by the WTO Dispute Settlement Body, the offending state
a. can simply ignore the ruling and leave the other party with no options. b. will be removed from its membership. c. must accept any penalty given it. d. can change its practice or can offer compensation.
Potential GDP is estimated to grow at a rate of 3.2% in the United States. Actual GDP in the U.S
A) always grows at a slower rate than potential GDP. B) is the same as potential GDP if all firms in the economy were working at capacity. C) always grows at the same rate as potential GDP. D) always grows at a faster rate than potential GDP.