The General Agreement on Tariffs and Trade forms the legal and institutional foundation for the current multilateral trading system
a. True
b. False
B
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Why assume that firms maximize profit, when it is easy to find companies that pursue other goals such as saving rain forests (Ben and Jerry’s) and sponsoring Mister Rogers (Sears)?
What will be an ideal response?
The quantity theory of money is a theory of how
A) the money supply is determined. B) interest rates are determined. C) the nominal value of aggregate income is determined. D) the real value of aggregate income is determined.
Limits on the value of the assets that commercial banks can acquire relative to their capital is known as:
A) equity requirements B) capital requirements C) required reserves D) asset requirements
In the factor market:
A. households supply factors of production to business and are paid by business for doing so. B. government produces goods and services and supplies them to households and business. C. business produces goods and services and sells them to households and government. D. households supply factors of production to business and are paid by government for doing so.