Which of the following statements is false?

• A.Economists generally oppose trade restrictions because they increase specialization.
• B.Economists generally oppose trade restrictions because they reduce efficiency and specialization.
• C.Economists generally oppose trade restrictions because they reduce competition.

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Which of the following statements regarding hypothesis testing is false?

• A.If the population standard deviation is known, then the standard error of the sample mean is found by dividing the population standard deviation by the square root of "n."
• B.The test statistic is also known as the "critical value."
• C.Despite the different ways to formulate a hypothesis, the null hypothesis is always tested at the point of equality.

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Refer to the table below. Which of the following statements is true?

• A.Gains from trade are possible for both countries.
• B.Only Kiribati will benefit from trade with Tuvalu.
• C.No gains from trade are possible for either Kiribati or Tuvalu.

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If Disney is to issue new common stock, what would the offering be termed?

• A.seasoned new issue.
• B.shelf registration issuance.
• C.initial public offering (IPO).

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Which of the following statement best explains why the average total cost of a firm is U-shaped?

• A.Marginal cost is high for low output levels and average fixed cost is high for high output levels.
• B.Average fixed cost is high for low output levels and marginal cost is high for high output levels.
• C.Marginal cost is low for low output levels and average fixed cost is low for high output levels.

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