Which of the following is the most complete form of economic integration?

A) Free trade area B) Customs union C) Common market D) Economic union

Answer: D

Economics

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If one day a terrible disease were to wipe out over one-half of the world's lime trees, which of the following would likely result?

A) The supply curve of lime juice would shift downward and to the right. B) The supply curve of lime juice would shift upward and to the left. C) The demand curve for lime juice would shift to the right. D) The demand curve for lime juice would shift to the left.

Economics

Under price leadership

a. the leader must be the dominant firm in the industry b. all firms follow price changes initiated by the leader c. price cuts are followed by other firms in the industry, but price increases are not d. price increases are followed by other firms in the industry, but price cuts are not e. price wars often occur as a result of tit-for-tat strategies

Economics