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  • A ___________ consists of two firms operating in a market. #191
  • Large importing countries and large exporting countries have a market ______________ present. #192
  • ____________ production externalities occur when production has a beneficial effect in other markets in the economy. #193
  • __________ consumption externalities occur when consumption has a beneficial effect in other markets in the economy. #194
  • A first-best equilibrium occurs in a perfectly competitive market when ________ imperfections or distortions are present. #195
  • A second-best equilibrium arises whenever a market includes one or more ____________. #196
  • With a laissez-faire policy, the resulting equilibrium would be called _____________. #197
  • An economic rationale for government ______________ in the private market arises whenever there are uncorrected market imperfections or distortions.. #198
  • The Dispute Settlement Body is comprised of how many representative/s from each member country? #199
  • Trade policies, like tariffs or export taxes, are designed to directly affect the flow of goods and services between_______________. #200
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