One of the primary objectives of the WTO is:
a. to create trade restrictions across the countries.
b. to reduce trade barriers created by the different countries.
c. to enable certain countries to maintain their autarkic conditions.
d. to enable the western countries to emerge as major players in the international trade.
e. to redistribute wealth from the first world to the third world countries.
b
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The real output of the economy under conditions of full employment
A) is long-run aggregate demand. B) is long-run aggregate supply. C) happens only when there is no inflation. D) is determined by the real-balance effect.
In settings where the policy space is single dimensional, non-single peaked preferences by some implies there is no Condorcet winner.
Answer the following statement true (T) or false (F)
About one out of every _______ whites is poor.
Fill in the blank(s) with the appropriate word(s).
Speculation in exchange markets is often thought of as conducive to wild fluctuations in exchange rates. In practice it appears that speculators
A. have destabilized several currencies that were at sustainable equilibrium levels. B. have no effect in fixed rate systems. C. in fact tend to stabilize exchange rates rather than destabilize them. D. All of the above are correct.