The WTO is considered _________, whereas NAFTA and the European Union are __________.
a. a free trade area; cartels
b. a cartel; multilateral agreements
c. a free trade area; multilateral agreements
d. a multilateral agreement; regional trade agreements
Ans: d. a multilateral agreement; regional trade agreements
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Finding a small value of the p-value (e.g. less than 5%)
A) indicates evidence in favor of the null hypothesis. B) implies that the t-statistic is less than 1.96. C) indicates evidence in against the null hypothesis. D) will only happen roughly one in twenty samples.
A tax imposed on the sellers of a good will lower the
a. price paid by buyers and lower the equilibrium quantity. b. price paid by buyers and raise the equilibrium quantity. c. effective price received by sellers and lower the equilibrium quantity. d. effective price received by sellers and raise the equilibrium quantity.
What is meant by the term "lender of last resort?" In what circumstances might the Fed be a lender of last resort?
In which case(s) does(do) a country's demand for loanable funds shift right?
a. both an increase in the budget deficit and capital flight b. an increase in the budget deficit, but not capital flight c. capital flight, but not an increase in the budget deficit d. neither an increase in the budget deficit nor capital flight