If a violation of international law is found by the WTO Dispute Settlement Body, the offending state
a. can simply ignore the ruling and leave the other party with no options.
b. will be removed from its membership.
c. must accept any penalty given it.
d. can change its practice or can offer compensation.
d. can change its practice or can offer compensation.
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In the open-economy ISLM model, net export is specified as a function of and exchange arte is specified as a function of
A) output; output. B) money supply; interest rate. C) exchange rate; interest rate. D) exchange rate; money demand.
Assume that product X has a negative cross elasticity with respect to shoes. If the price of shoes rises
A) the demand for product X will decrease. B) the quantity demanded for product X will increase. C) the demand for shoes will fall. D) the demand for product X will increase.
Which of the following is not a function of the Federal Reserve System?
a. Supervising the banking system. b. Deciding the maximum interest rates banks can charge for loans. c. Clearing checks. d. Acting as a bank for banks. e. Dealing with financial crises.
Suppose a boom in stock market prices helps make people feel wealthier. Using the model of aggregate demand and aggregate supply, identify the curves that are affected, and which way these curves would shift