Progress that meets the needs of the present without compromising the ability of future generations to meet their own needs is ?

A. The tragedy of commons
B. Sustainable development
C. Net primary productivity (npp)
D. The impossibility theorem

The Organization of Petroleum Exporting Countries (OPEC) is a(n) _________whose members agree to limit output and fix prices?

A. Monopoly
B. Entropy
C. Industry
D. Cartel

Which of the following is an example of tragedy of commons ?

A. Over fishing
B. Smoking in a public place
C. Excessive rain
D. Common use of public toilets

The form of dumping that represents the greatest potential net welfare loss the for importing national is ?

A. Predatory dumping
B. Sporadic dumping
C. Persistent dumping
D. Yearend dumping

According to the cost-based definition of dumping, dumping occurs when a firm sells a product abroad at a price that is less than ?

A. Average total cost
B. Average variable cost
C. Average fixed cost
D. Marginal cost

A _______ allows a specified number of goods to be imported each year, and it not specifies from where the product is shipped and who is permitted to import ?

A. Import quota
B. Export quota
C. Selective quota
D. Global quota

Which company in the United States would likely be most concerned about Brazil’s dumping of steel in the U.S market ?

A. General motors, the manufacturer of automobiles
B. Tennessee mining co. an iron-ore mining company
C. Caterpillar corp the producer of earth moving equipment
D. Sneva construction co. the builder of skyscrapers

A attempts to limit outsourcing of jobs to foreigners by requiring that a minimum percentage of a product’s value must be produced domestically if that good is to be sold in the domestic market ?

A. Domestic subsidy
B. Voluntary restraint agreement
C. Domestic content requirement
D. Tariff-rate quota

A production subsidy that is granted to a producer of an import-competing good ?

A. Does not require government taxes to finance it
B. Yields the same deadweight welfare loss as an import tariff or import quota
C. Has only a consumption effect deadweight loss
D. Has only a protective effect deadweight loss

Governments around the world tend to auction quota licenses ?

A. Never
B. Seldom
C. Often
D. Always