According to the text, approximately how many countries are members of the WTO?
A) 100
B) 135
C) 160
D) 180
Answer: C
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In the Keynesian model, consumption depends on:
A. the natural rate of unemployment. B. potential output. C. disposable income. D. whether the government has a budget surplus or deficit.
If the single restaurant in an Eastern Kentucky town is currently charging a price for its ham and eggs where the demand is unit elastic, its marginal revenue for ham and eggs is
A) negative. B) positive. C) zero. D) maximized. E) undefined.
A minimum wage is the:
A. lowest wage that a firm is legally allowed to pay its workers. B. highest wage that a firm is legally obligated to pay its non-skilled labor. C. wage every high school dropout will earn if they are employed. D. prevailing wage for low-income workers in a nation.
Contracts are usually less costly to arrange and enforce than spot market transactions, and they bring benefits that are unobtainable in spot markets
Indicate whether the statement is true or false