A country that is a member of the World Trade Organization
A) can use tariffs and quotas to limit trade.
B) can establish preferential trading arrangements with other countries.
C) is allowed to eliminate all of its tariffs and quotas.
D) All of the above.
D
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Comparing a market basket A to other market baskets, we can say that for a typical consumer, A is preferred to baskets to the
a. southwest but less preferred to baskets to the northeast. b. northeast but less preferred to baskets to the southwest. c. northwest but less preferred to baskets to the southeast. d. southeast but less preferred to baskets to the northwest .
A savings and loan strives for a 6% real return on its loans and estimates a 7% annual rate of inflation. It should therefore charge its borrowers a nominal interest rate of
A) 13%. B) 7%. C) 6%. D) 1.17%. E) 1%.
Gunnar can work as a campus security officer at a guaranteed salary of $20,000 per year or as a real estate agent
If Gunnar works as a real estate agent, there is a 50 percent chance that he will earn $10,000 per year and a 50 percent chance that he will earn $30,000 per year. Based on the table above, Gunnar's expected utility if he works as a real estate agent is A) 170. B) 85. C) 20. D) 90.
As the level of real GDP increases, the short-run aggregate supply curve:
a. shifts to the right. b. shifts to the left. c. becomes flatter. d. becomes steeper. e. becomes horizontal to the real GDP axis.