Write an essay on the role of the WTO in today's international economy
What will be an ideal response?
The WTO serves as a forum for trade liberalization talks, and administers an international body of trade law. Under the latter, it has outlawed certain practices and arbitrates disputes between countries over the interpretation of the code. In its former embodiment, the GATT, it has presided over a number of rounds of talks that have produced substantial reductions in tariff levels, especially in developed countries.
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Is the United States in danger of a sovereign default because, like countries in the euro zone, it has high current account deficits and levels of public debt?
What will be an ideal response?
There are a number of benefits that usually accompany economic growth. The following are such benefits EXCEPT
A) increase in literacy. B) increased expected life-spans. C) political stability. D) urban congestion.
Which of the following would not describe two thirds of the for-profit businesses in the United States as measured by sheer number of firms?
a. small retail businesses b. small service operations c. part-time home-based businesses d. small farms e. multinational corporation
Consider an economy made up of 100 people sixteen years of age and older, 60 of whom hold jobs, 10 of whom are looking for work, and 15 of whom are retired. The number of people in the labor force is _____
a. 30 b. 60 c. 85 d. 90 e. 70