The principal objective of WTO is to:
a. reduce the level of all tariffs.
b. establish fair prices for all goods traded internationally.
c. prevent the trading of services across nations' borders.
d. encourage countries to establish quotas.
a
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The magnitude of the tax multiplier is smaller than the magnitude of the government expenditure multiplier because
A) a change in taxes does not change expenditures. B) an increase in taxes decreases expenditures. C) a decrease in government expenditure decreases tax revenue. D) a change in taxes does not change expenditures by as much as the same size change in government expenditure. E) a change in taxes creates additional induced taxes.
In the figure above, the curve is known as the
A) production possibilities frontier. B) substitution options frontier. C) production function. D) opportunity cost curve.
Rent and car payments are examples of:
a. Variable expenses b. Fixed expenses c. Net worth expenses d. Assets
It is not necessary to offer a subsidy in order to make price efficiency regulation viable in the long run.
Answer the following statement true (T) or false (F)