The World Trade Organization
A) was set up to increase tariffs among nations.
B) was set up to negotiate exchange rates between countries.
C) was set up to decrease tariffs among nations.
D) handles trade disputes among its member nations.
Answer: D
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Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________. 
A. Rising; A B. Falling; A; C C. Falling; B: C D. Rising; A; C
The U.S. inflation rate ________ in the 1960s and 1970s, ________ in the 1980s, and ________ in the 1990s and 2000s
A) was steady; rose sharply; fell B) was steady; rose sharply; remained high C) rose; fell sharply; remained low D) rose; fell sharply; rose again
The business cycle is usually illustrated using movements in
A) the inflation rate. B) labor productivity. C) real GDP. D) the size of the labor force.
The introduction of seat belts increased the number of accidents, even though the number of fatalities decreased. This is most likely a result of
a. Moral hazard b. Adverse selection c. seat belts distracting drivers d. None of the above