Price discrimination that tends to lessen competition is outlawed by the:

Deviations from purchasing power parity will be increasingly higher as international trade tariffs become more restrictive. The main reason for this phenomenon is that:

a. arbitrage activities become less profitable. b. governments prefer purchasing power parity not to hold. c. the interest rate parity fails to hold. d. goods become more differentiated across countries. e. individuals develop hatred toward closed economies.

The study of microeconomic theory focuses on

A. individual behavior in the economy B. Role of the banking system in the economy. C. Operation of the entire economy. D. Interaction of international trade and domestic production of goods and services.