The World Trade Organization is designed to do the following except:
A. monitor trade agreements.
B. promote free trade internationally.
C. enforce trade agreements between nations.
D. ensure that trade doesn’t adversely affect the environment.
D. ensure that trade doesn’t adversely affect the environment.
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According to the Monetarists, the primary cause of inflation is:
a. large budget deficits. b. high taxes. c. rapid expansion of the money supply. d. government expenditures that are large relative to the size of the economy.
A supply schedule shows the relationship between:
A. demand and supply. B. supply and income. C. price and income. D. quantity supplied and price.
The primary function of taxes is to
A. Increase the purchasing power of the private sector. B. Increase private saving. C. Correct inequities in the distribution of goods and services. D. Transfer the command of resources from the private sector to the public sector.
The law of supply includes the statement "other things being equal." These other things include all of the following EXCEPT
A) resource prices. B) technology. C) producers' expectations. D) consumer's income.