An international agreement from 1947 designed to lower tariffs was
A. the Trade and Tariff Agreement.
B. the World Agreement on Tariffs and Trade.
C. the World Trade Organization.
D. the General Agreement on Tariffs and Trade.
Answer: D
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Which condition would generate a violation of the Ricardian Equivalence?
A) downward sloping labor supply curve B) underdeveloped credit markets C) inflationary monetary policy D) deflationary monetary policy
If Jet Cruises chooses to No Ad and Easy Sail then chooses to No Ad, Jet Cruises earns ________ million in net profit and Easy Sail earns ________ million.
Jet Cruises wants to prevent Easy Sail from entering the sailboat market. The above game tree illustrates the different strategies and corresponding payoffs for the two firms. Both Jet Cruises and Easy Sail have the same strategies of advertising (Ad) or not advertising (No Ad). The payoffs represent net profit in millions.
A) $5; $2 B) $2; $4 C) $4; $3 D) $10; $2
What is an aggregate demand curve
a. The demand of an individual with respect to price b. The total demand of the market with respect to price of a good c. The preference of an individual in the market d. None of the above
If a new economics educator with a Ph.D. finds work as a taxi driver, but continues to look for a professorship, he is counted as employed
Indicate whether the statement is true or false