The World Bank formed the World Trade Organization when it became clear that to alleviate poverty in developing nations, agricultural trade barriers were going to have to be reduced
Indicate whether the statement is true or false
FALSE
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A profit maximizing monopolist will hire labor up to the point where
A) marginal revenue product equals the price of the product. B) marginal revenue product is greater than the wage rate. C) marginal revenue product equals than the wage rate. D) marginal revenue product is less than the wage rate.
In an economy, U = the number of adults who are unemployed, E = the number of adults who are employed, and NLF = the number of adults not in the labor force. The unemployment rate of the economy is equal to: a. U/(E + NLF)
b. U/E. c. U/(U + E). d. U/(E + NLF). e. U/(U + E ? NLF).
In the 1980s, some states in the United States had significantly more bank failures than other states. What industries did the former states depend on heavily?
a. Oil and agriculture b. Tourism c. Defense and aeronautics d. Construction and textiles e. The computer industry
If a country sells more goods and services abroad than it purchases abroad, it has positive net exports and a trade surplus
a. True b. False Indicate whether the statement is true or false