What has been the most significant obstacle to progress in the Doha Round?
What will be an ideal response?
Agriculture and agricultural support policies
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GDP tends to underestimate the productive activity in the economy because it excludes the value of output from ________.
A. the consumption of fixed capital B. intermediate goods C. public transfer payments to households D. the underground economy
A graph shows the wage rate of factory workers. The slope of the line is positive for periods when the wage rate is
A) low and falling. B) high and not changing. C) rising. D) high and falling. E) falling.
If the Fed increases the quantity of money, then
A) aggregate demand increases and the AD curve shifts rightward. B) the quantity of real GDP demanded decreases and there is a movement up along the AD curve. C) both the aggregate demand curve and the aggregate supply curve shift leftward. D) aggregate demand decreases and the AD curve shifts leftward. E) the quantity of real GDP demanded increases and there is a movement down along the AD curve.
Limitations of bargaining include:
A. contracts may not need enforcing. B. the assignment of property rights may be ambiguous. C. if the parties have too much information, bargaining may be unnecessary. D. All of the responses are correct.