The World Trade Organization
A) was established to settle trade disputes within the European Union.
B) is another name for the IMF.
C) was established to resolve disputes arising under world trade rules.
D) increases world trade by providing interest rate subsidies to foreign borrowers who buy U.S. exports on credit.
Answer: C
You might also like to view...
Suppose that in the absence of trade, the U.S. price for peas was lower than the world price for peas. Would allowing international trade mean that the United States would import or export peas? Who in the United States would benefit and who would lose with a free trade policy, and would the gains be greater than the losses?
It often appears as if there are "too few" workers at the Department of Motor Vehicles (DMV) to service all of its customers at a given point in time. Based on one of theories discussed in the textbook, this is probably because
A) the equilibrium "price" to be served by the DMV is lower than the "price" charged customers. B) the equilibrium "price" to be served by the DMV is higher than the "price" charged customers. C) the equilibrium "price" to be served by the DMV minus the "price" charged to customers is zero. D) b and c E) none of the above
The formula for price elasticity of demand that is used in practice
A. usually drops all minus signs. B. usually takes on different values at different points on the demand curve. C. may calculate the percentage change in price between P1 and P2 as “(P2 ? P1) as a percentage of (P1 + P2)/2.” D. All of the responses are correct.
If the government uses the budget as an economic stabilizer, the budget is most likely to be in deficit during a(n)
a. inflationary period. b. trough. c. expansion. d. peak.