The World Trade Organization is called _______________ because it involves many, if not most, of the nations in the world.
a. a bilateral trade organization
b. a trilateral trade organization
c. a multilateral trade agreement
d. a quasi-political trade organization
Ans: c. a multilateral trade agreement
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Which of the following would increase the balance on the current account?
A) an increase in imports B) an increase in foreign direct investment C) an increase in the amount of aid money the government sends abroad D) an increase in the balance of trade
Which of the following would increase the supply of laptop computers?
a. Higher wage rates for the workers that produce laptop computers. b. A technological improvement that lowers the cost of producing laptop computers. c. An increase in the price of computer chips used to produce laptop computers. d. All of these.
The phrase "a weaker U.S. dollar" means that the dollar
a. has been depreciating b. has been appreciating c. is not in equilibrium on the foriegn exchange market d. is fluctuating greatly e. buys less than one unit of a foreign currency
Informational asymmetry may apply to a hidden action or hidden characteristic where the informed party may be reluctant to reveal relevant information
a. True b. False Indicate whether the statement is true or false