What is the MOST recent set of negotiations at WTO called?
a. the Doha round
b. the Kyoto round
c. the Geneva accord
d. the Paris negotiation
Ans: a. the Doha round
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During an economic boom,
a. the actual rate of unemployment will exceed the natural rate of unemployment. b. the output of the economy will exceed its long-run potential output. c. widespread unemployment will cause inflation to increase. d. the actual rate of unemployment will equal the natural rate of unemployment.
A country's real GDP rose from $500 to $530 while its nominal GDP rose from $600 to $700 . What was this country's inflation rate?
a. 16.7%. b. 10.0%. c. 15.0%. d. -9.1%.
Suppose that the country of Aquilonia has an inflation rate of about 2 percent per year and a real growth rate of about 3 percent per year. Suppose also that it has nominal GDP of about 400 billion units of currency and current nominal national debt of 200 billion units of domestic currency. Which of the following government spending and taxation figures will keep the debt to-income ratio
constant? a. government spending equal to 30 billion units and tax collections equal to 25 billion units b. government spending equal to 30 billion units and tax collections equal to 20 billion units c. government spending equal to 30 billion units and tax collections equal to 10 billion units d. government spending equal to 30 billion units and tax collections equal to 5 billion units
Most economists
A. favor tariffs. B. favor quotas. C. advocate "fair trade." D. Economists do not favor any of these.