World-class models receive significant economic rents because
A) their talents and abilities are in fixed supply.
B) there is a shortage of world-class models.
C) there is a surplus of world-class models.
D) there is no equilibrium quantity of world-class models.
Ans: A) their talents and abilities are in fixed supply.
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Which of the following is NOT a true statement about the WTO and the protection of endangered species?
A) The environmental movement has been critical of the WTO. B) Under WTO rules, countries have a right to impose import barriers to protect endangered species. C) The WTO did not allow the U.S. to protect sea turtles. D) GATT rules prohibit discrimination based on the production process used.
The economies of most less-developed countries (LDCs) are based on:
a. agriculture. b. manufacturing. c. services. d. oil.