Which of the following statements is true?
A. The WTO allows countries to pursue environmental protection using policies that limit international trade and hence is unable to address the problem of disguised protectionism.
B. The WTO allows a country to impose an import restriction on a good for health reasons as long as the country also restricts the domestic production or consumption of the good.
C. The WTO is the final arbiter of whether goods pose a health or safety risk.
D. The World Trade Organization (WTO) allows a country to impose a trade restriction on imports of a good because it was produced using methods that violate the importing country's environmental standards.
Answer: B
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Refer to Figure 2-4. A movement from ________ is the result of negative technological change in plastic production
A) V to X B) Z to Y C) X to W D) W to Z
When a perfectly competitive firm makes a decision to shut down, it is most likely that
A. fixed costs exceed variable costs. B. marginal cost is above average variable cost C. price is below the minimum of average variable cost D. marginal cost is above average total cost