The primary purpose of WTO is to:

a. protect the United States from cheap foreign labor.
b. foster trade among nations.
c. promote the dumping of foreign products.
d. increase worldwide tariffs.
e. form a union of European nations.


b

Economics

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If market demand for solar panels is specified as QD = 100 – 2.5P, the vertical intercept of demand, as conventionally graphed, is

a. +100 b. –100 c. –2.5 d. +40

Economics

If in the market for apples the supply has decreased, then

A) the supply curve for apples has shifted to the right. B) there has been a movement upwards along the supply curve for apples. C) there has been a movement downwards along the supply curve for apples. D) the supply curve for apples has shifted to the left.

Economics

Refer to Figure 7-2. With the tariff in place, the United States consumes

A) 18 million pounds of coffee. B) 20 million pounds of coffee. C) 26 million pounds of coffee. D) 38 million pounds of coffee.

Economics

Which of the following is most likely to increase the natural rate of unemployment?

a. An increase in the age of the working population b. A shift from service to manufacturing jobs c. An increase in the minimum wage rate d. A reduction in social security benefits e. A reduction in direct taxes

Economics