In 2007, European Union (EU) negotiators have offered to cut tariffs for Latin American bananas to avoid "banana wars". What are the effects of a cut in tariffs?
A) The quantity of bananas imported into the EU will increase.
B) The price of bananas for consumers will increase.
C) The quantity of bananas produced in the EU (such as in France and Spain) will increase.
D) Europe will start to export bananas.
A
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Which of the following statement is correct?
A) If nominal GDP does not change, then real GDP cannot change. B) If nominal GDP decreases, then real GDP must increase. C) Nominal and real GDP can change either in the same direction or the opposite direction. D) If real GDP decreases, then nominal GDP must decrease. E) If nominal GDP increases, then real GDP must increase.
What is one of the biggest differences between a sole proprietorship and a corporation?
A) Sole proprietorships offer stock. B) Corporation shareholders elect the managers of the firm. C) Sole proprietorships have limited liability. D) Corporations are the only profitable firms.
A multinational agency that specializes solely in making loans to promote long-term development and growth in developing countries is the
A) Federal Reserve System. B) World Bank. C) International Monetary Fund. D) International World Fund.
If on Tuesday you can buy 125 yen per U.S. dollar and on Wednesday you can buy 120 yen per U.S. dollar,
a. both the U.S. dollar and the yen have appreciated b. both the U.S. dollar and the yen have depreciated c. the U.S. dollar has appreciated and the yen has depreciated d. the U.S. dollar has depreciated and the yen has appreciated e. the yen has appreciated and the U.S. dollar has remained constant