Which round of GATT led to the formation of the WTO?
What will be an ideal response?
The Uruguay Round
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Which of the following is true about labor productivity?
A) it is the amount of total factor productivity (TFP) per unit of labor B) it is more difficult to measure than TFP C) it is a more general and better measure of productivity than TFP D) all of the above E) none of the above
Macro equilibrium always occurs:
A. When aggregate supply is greater than aggregate demand. B. When the labor force is fully employed. C. When aggregate demand equals aggregate supply at the average price level. D. At a zero inflation rate.
What is the purpose of advertisements that focus on beer drinkers frolicking on the beach?
What will be an ideal response?
Identify the statement that best defines Nash equilibrium.
A. It is a sequence of actions, where the actions are taken at each node of the game. B. It is a set of strategies that gives a player the first-mover advantage. C. It is a sequence of actions that are taken to influence the actions of rivals. D. It is a set of strategies in which a firm does the best it can, given the action of its rival.