Marketopia's real GDP was $520 billion in 2014 and $550 billion in 2015. Its population was 150 million in 2014 and 155 million in 2015. On the other hand, Econland's real GDP was $200 billion in 2014 and $210 billion in 2015; and its population was 53 million in 2014 and 55 million in 2015. Which of the following statements is true?
A. Econland's GDP per capita increased from 2014 to 2015, while Marketopia's decreased.
B. Marketopia's and Econland's GDP per capita both decreased from 2014 to 2015.
C. Marketopia's GDP per capita increased from 2014 to 2015, while Econland's decreased.
D. Marketopia's and Econland's GDP per capita both increased from 2014 to 2015.
Answer: D
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An excise tax on gasoline causes
A) supply of gasoline to shift to the left. B) a reduction in the quantity of gasoline demanded. C) the market clearing price of gasoline to rise. D) All of the above are correct.
Which of the following was formed in October 2001 to make the national antitrust laws more consistent across the developing and developed countries of the world?
a. International Cooperation Network b. International Competition Network c. International Communication Network d. International Organization for Standardization e. International Court of Justice