About what percent of total world trade is accounted for by countries that belong to the World Trade Organization?
a. 54 percent
b. 72 percent
c. 89 percent
d. 97 percent
d
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Refer to Game Matrix III. In this game,
Game Matrix III
The following questions refer to the game matrix below. Each firm has a choice of advertising, Ads, or not advertising, No ad. The profits each gets depend upon which it chooses.
a. Firm A's dominant strategy is to advertise.
b. Firm A's dominant strategy is not to advertise.
c. Firm B's dominant strategy is to advertise.
d. Firm B has no dominant strategy.
The real exchange rate is the
A) relative price of U.S. produced output relative to foreign-produced output. B) price of foreign goods relative to the price of domestic goods. C) trade-weighted index. D) current account balance.
Following Keynesian economics, and assuming a marginal propensity to consume (MPC) of 0.75, an increase in taxes of $100 billion would be expected to shift the aggregate demand curve by $300 billion to the left
a. True b. False Indicate whether the statement is true or false
_________________ —a term describing a good in which the quantity demanded rises as income rises, and in which quantity demanded falls as income falls.
a. Complement good b. Inferior good c. Normal good d. Superior good