The international organization that serves as a forum for trade discussions and the development of trade rules is called
A) the WTO.
B) the World Bank.
C) the IMF.
D) the United Nations.
A
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Which of the following activities would be included in GDP?
A. You buy a cake from a local bakery for $30. B. You pay a friend $30 to bake a cake. C. You bake a cake for yourself. D. All of these would be included in GDP.
Dan Unowsky assigns his computer repairers four tasks: customer service, replacement of broken parts, clean-up of equipment, and sale of used equipment to customers. If the company provides a 10 percent commission for all sales made by employees, then
A. employees will clearly emphasize the clean-up task. B. replacement of broken parts will clearly be favored by employees. C. employees may ignore other tasks when faced with a potential sale. D. the entire production process will be speeded up by the sales incentive.
According to purchasing-power parity, if the Federal Reserve increased the money supply
a. U.S. prices would rise and the nominal exchange rate would rise. b. U.S. prices would rise and the nominal exchange rate would fall. c. U.S. prices would fall and the nominal exchange rate would rise. d. U.S. prices and the nominal exchange rate would fall.
On the "supply side" of a market, producers indicate to consumers what they are willing to sell, in what quantity and at what price.
Answer the following statement true (T) or false (F)