The GATT is
A) an international treaty.
B) an international U.N. agency.
C) an international IMF agency.
D) a U.S. government agency.
E) a collection of tariffs.
A
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You are planning a graduation trip to Mexico. Other things the same, if the dollar appreciates relative to the peso, then
a. the dollar buys fewer pesos. Your hotel room in Mexico will require fewer dollars. b. the dollar buys fewer pesos. Your hotel room in Mexico will require more dollars. c. the dollar buys more pesos. Your hotel room in Mexico will require fewer dollars. d. the dollar buys more pesos. Your hotel room in Mexico will require more dollars.
Under a monopoly, resources are misallocated such that
A) too few resources are used in other industries, and too many are used by the monopoly. B) too few resources are used by the monopoly, and too many are used elsewhere. C) resources are being used as efficiently as possible only by the monopoly. D) consumers are being forced to pay a price below the MC of the monopolist.