Which of the following is entrusted with the responsibility of settling trade disputes between countries?
a. The European Union
b. The International Monetary Fund
c. The World Trade Organization
d. The International Labor Organization
e. The United Nations Organization
c
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Refer to the figure above. The triangular region ABC represents the ________
A) deadweight loss due to the presence of a pecuniary externality B) deadweight loss due to the presence of a negative externality C) economic loss of not recognizing a positive externality D) inefficiency created by not recognizing a negative externality
A business can be operated profitably at a loss for an indefinite period of time
A) if it is unable to meet all their obligations but able to cover operating costs. B) if we neglect the social costs of discriminatory pricing. C) for firms that enjoy special legal privileges. D) if costs are calculated as marginal opportunity costs.