The World Trade Organization
A. was set up to decrease tariffs among nations.
B. was set up to increase tariffs among nations.
C. was set up to negotiate exchange rates between countries.
D. handles trade disputes among its member nations.
Answer: D
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Which of the following would cause prices to fall and output to rise in the short run?
a. short-run aggregate supply shifts right b. short-run aggregate supply shifts left c. aggregate demand shifts right d. aggregate demand shifts left
If money income increases and the prices of products A and B both increase, then the budget line:
A. must shift to the right. B. must shift to the left. C. may shift either to the right or the left, or not at all. D. will no longer be tangent to an indifference curve.
According to the Keynesian model, what are the two components of consumption spending? What determines how consumption changes when real disposable income changes? Explain
What will be an ideal response?
When the Federal Reserve increases the money supply, at the previous equilibrium interest rate households and firms will now have
A) the amount of money that they want to hold. B) more money than they want to hold. C) less money than they want to hold. D) to sell Treasury bills.