What do developing countries want regarding agriculture in the Doha Round?
What will be an ideal response?
To limit government practices that block their access to markets or that subsidize production in high income countries
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Starting from long-run equilibrium, a large tax cut will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; higher B. expansionary; higher; potential C. recessionary; higher; potential D. recessionary; lower; lower
Mary says she plans to return to college next semester assuming her car keeps running, tuition fees don't go up, and her daycare provider continues to be dependable. An economist would say that Mary plans to return to college next semester
A) caveat emptor. B) ceteris paribus. C) laissez faire. D) ipso facto.
The efficiency of market organization is dependent on which of the following?
a. well-regulated supply and demand b. the availability of low cost resources and high tariffs on foreign imports c. competitive markets and well-defined and enforced private property rights d. Government establishment of the invisible hand principle and the inelasticity of certain goods.
Among non-Hispanic whites, blacks, and Hispanics, the group with the highest poverty rate is ______.
Fill in the blank(s) with the appropriate word(s).