The successor organization to GATT, created in 1995, is the
A) WTO.
B) EU.
C) NAFTA.
D) FDIC.
Answer: A
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The above figure shows the labor market in an undeveloped nation. A minimum wage has an effect on the market for low-skilled labor if it is set at
A) $2.00. B) $3.00. C) $4.00. D) all of the above
A temporary decrease in government purchases causes the real interest rate to ________ and output to ________ in the short run, before prices adjust to restore equilibrium
A) rise; rise B) rise; fall C) fall; rise D) fall; fall
In 1986, Ken bought a Ford Mustang for $8,000 . If the price index was 122 in 1986 and the price index was 280 in 2011, then what is the price of the Mustang in 2011 dollars?
a. $3,485.71 b. $8,100.71 c. $18,360.66 d. $22,400.00
A World View article titled "Japan Sees Quake Damage Bill of Up to $309 Billion, Almost Four Katrinas" implies that the most likely impact from power shortages from this destruction would be
A. A leftward shift of aggregate supply. B. An increase in GDP. C. A rightward movement down the Phillips curve. D. A decrease in inflation.