Which of the following purports to be a "free-trade" agreement?
A. USSR
B. WTO
C. CAFTA
D. GATT
Answer: C
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Which of the following is an example of a capital good?
A. A metal-stamping machine used to produce cars sold to an automaker B. A new CD player sold to a teenager C. A new CD player sold to an automaker for installation in a car D. A new car sold to a family
When the Fed worries about inflation, it ________ the federal funds rate and, in the short run, ________ the real interest rate
A) raises; raises B) raises; lowers C) lowers; lowers D) does not change; the Fed raises E) lowers; raises
Which of the following is TRUE of an oligopoly?
A) They engage in nonprice competition. B) They do not react to actions of their competitors. C) Each firm produces a small portion of the total output. D) Firms do not care what their competitors do.
Retail trade is an example of
A. perfect competition. B. oligopoly. C. monopoly. D. monopolistic competition.