Which of the following statements about the World Trade Organization (WTO) is FALSE?
A. The WTO is a development of the General Agreement on Tariffs and Trade (GATT).
B. The WTO makes an effort to ensure that trade flows smoothly and predictably.
C. The WTO has worked to increase tariff rates in an effort to protect infant industries in developing countries.
D. The WTO is the main world organization governing rules of international trade.
Answer: C
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Suppose there are 100 million in the labor force, and 6 million unemployed people. During the next month, 200,000 people lose their jobs and 300,000 find jobs. The new total of employed persons is ________ and the new unemployment rate is ________
A) 100.1 million; 5.8 percent B) 100 million; 6.1 percent C) 94.1 million; 5.9 percent D) 93.9 million; 6.1 percent
The relationship between annual real per-capita GDP and corruption across countries has been found to be
A) negative. B) positive. C) The relationship was negative in the late 1960s but is now positive. D) The relationship was in the late 1960s but is now negative. E) There is no relationship between these two variables.
A "Jumbo" CD is one in excess of
A) $1,000. B) $10,000. C) $50,000. D) $100,000.
Which of the following macroeconomic variables would likely be affected by a fiscal policy?
a. The nominal interest rate b. The exchange rate c. The discount rate d. Employment e. Money supply