The World Trade Organization:
A. is also known as the International Monetary Fund (IMF).
B. is also known as NAFTA.
C. was established to resolve disputes arising under world trade rules.
D. enhances world trade by providing interest rate subsidies to foreign borrowers who buy
exports on credit.
C. was established to resolve disputes arising under world trade rules.
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Suppose that a worker in Country A can make either 10 iPods or 5 tablets each year. Country A has 100 workers. Suppose a worker in Country B can make either 2 iPods or 10 tablets each year. Country B has 200 workers. A bundle of goods that Country A could potentially make would be:
A. (1,000 iPods, 500 tablets). B. (500 iPods, 500 tablets). C. (500 iPods, 250 tablets). D. (750 iPods, 150 tablets).
During an election year, the federal government would mostly likely increase _____
a. tax rates b. interest rates c. the discount rate charged to commercial banks d. the minimum reserve requirement of commercial banks e. government purchases of goods and services
When the Fed increases or decreases the money supply, these actions are called
a. discounting b. money printing c. moral suasion d. open market operations e. interest payments
The Social Security retirement program is financed by a 10.6 percent payroll tax that applies to earnings up to an income cutoff that is adjusted upward annually by the growth rate of nominal wages. As of 2013, the income cutoff was
a. $15,000. b. $32,700. c. $113,700. d. $250,000.