What organization emerged from the GATT, starting January 1, 1995, with expanded responsibilities and global interaction?
a. the Doha round
b. the World Trade Organization
c. the United Nations
d. the Institute for International Economics
Ans: b. the World Trade Organization
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Suppose the labor force in Tiny Town is 100 people. If the ________ in Tiny Town is 150 people, the labor force participation rate equals ________ multiplied by 100
A) working age population; 100/150 B) working age population; 100/250 C) number of employed persons; 100/250 D) number of employed persons; 100/150
Does economic growth result from increases in aggregate demand, short-run aggregate supply, or long-run aggregate supply?
What will be an ideal response?
An essential function of a central bank is to:
A. manage the money supply. B. collect taxes. C. issue debt. D. control and monitor government budgets.
Private property rights imply that people can own things, and they can do what they want with what they own even if they infringe on the private property rights of others
a. True b. False Indicate whether the statement is true or false