Participating nations in the 1997 Kyoto Protocol agreed to reduce overall greenhouse gases emission through 2020 to
A) as much as 20 percent below the levels in the 1990s.
B) as much as 5 percent below the levels in the 1990s.
C) as much as 50 percent below the levels in the 1990s.
D) as much as 50 percent below the levels in the 1960s.
A
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The relative importance of housing in the breakdown of consumer spending is
a. 42 percent. b. 15 percent. c. 6 percent. d. 4 percent.
Policy issues of business cycles are considered in a long-run framework.
Answer the following statement true (T) or false (F)
International trade
A. benefits consumers but harms producers. B. can only take place if a nation has a special natural endowment for the production of a good. C. will occur if a nation has a comparative advantage in the production of a good. D. represents trade between two governments.
In the long run, an increase in aggregate demand will lead to
A. A higher price level and an increase in real GDP. B. A decrease in real GDP. C. A higher price level only. D. An increase in real GDP only.