Author Question: The shift toward more open, integrated economies that participate in foreign trade and investment is ... (Read 52 times)

nautica902 · **on:** Jun 29, 2018

The shift toward more open, integrated economies that participate in foreign trade and investment is referred to as:

A) protectionism.
B) fair trade promotion.
C) globalization.
D) traditionalism.

Question 2

Which of the following statements is true?

A) A buyer who sets a price so that he can purchase any amount of a good he wants at a fixed price, if he has the money to pay for it, is called a price leader.
B) All buyers in a perfectly competitive market set prices to compete in their market.
C) The relative prices of goods do not affect a consumer's buying decision.
D) A consumer in a perfectly competitive market buys only a tiny fraction of the total amount produced.