Which of the following has overseen the global rules of government policy toward international trade since 1995?
A. The World Trade Organization
B. The General Agreement on Tariffs and Trade
C. The World Bank
D. The International Monetary Fund
Answer: A
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The inflation and unemployment rates experienced during the 1960s seemed to indicate that the economy was operating on the vertical segment of the aggregate supply curve
Indicate whether the statement is true or false
Fiscal policy affects the economy
a. only in the short run. b. only in the long run. c. in both the short and long run. d. in neither the short nor the long run.
Political instability is an obstacle to development in:
A. both market and socialist economies. B. neither market nor socialist economies. C. market economies. D. socialist economies.
Economists use the phrase "network externalities" to describe the role technology plays in explaining why consumers buy products that other consumers are already buying.
a. true b. false