WTO is the acronym for:

a. the World Traffic Organization.
b. the World Trade Organization.
c. the World Tariff Organization.
d. the World Tax Organization.


Ans: b. the World Trade Organization.

Economics

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If the demand for loanable funds curve shifts rightward from the curve shown in the figure above, the shift could be the result of

A) a rise in the real interest rate. B) a decrease in expected profit. C) a fall in the real interest rate. D) an increase in expected profit. E) a decrease in real GDP. The figure above shows the supply of loanable funds curve.

Economics

European agricultural practices perfectly served the colonists farming in the New World

Indicate whether the statement is true or false

Economics

When there are economies of scale,

A) MC > AC, so cost-output elasticity is greater than AC. B) MC < AC, so cost-output elasticity is less than AC. C) MC < AC, so cost-output elasticity is greater than 1. D) MC < AC, so cost-output elasticity is less than 1. E) long-run marginal cost is declining.

Economics

If two goods are complementary, the cross elasticity will be negative

Indicate whether the statement is true or false

Economics