In 2003, the ________ ruled that U.S. tariffs on steel imported from the EU were unfair and allowed the EU to issue retaliatory tariffs on U.S. products.
A. European Central Bank
B. United Nations
C. World Trade Organization
D. International Human Rights Commission
Answer: C
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Traditional Keynesians tend to favor
a. monetary policy over fiscal policy because of the effectiveness of central banks. b. monetary policy over fiscal policy because it reduces interest rates.. c. fiscal policy over monetary policy because it doesn't impact interest rates. d. fiscal policy over monetary policy because of the liquidity trap. e. none of the above.
Figure 16.1A firm that generates pollution is illustrated in Figure 16.1. Suppose the government is considering changing the pollution tax from P3 to P2. That new policy would:
A. increase the marginal benefit to firms of abating, and thus encourage greater abatement. B. increase the marginal benefit to firms of abating, causing them to generate more pollution. C. reduce the marginal benefit to firms of abating, causing them to generate more pollution. D. reduce the marginal benefit to firms of abating, and thus encourage greater abatement.
Using the data in the above table, if the price of an hour of labor is $20 and the price of a unit of capital is $10, then the most economically efficient technique for producing 100 sweaters is
A) A. B) B. C) C. D) D.
To maximize satisfaction, the consumer must reach the lowest indifference curve that can be reached with a given level of income
a. True b. False Indicate whether the statement is true or false