Which of the following is true?
A) A country experiencing a debt or currency crisis would contact the World Trade Organization.
B) The World Trade Organization was formed at the Bretton Woods conference.
C) The General Agreement on Tariffs and Trade created the World Trade Organization in the negotiations and treaty known as the Uruguay Round.
D) The World Trade Organization has no power to resolve trade disputes and to enforce their resolution.
C
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Evidence to support the Ricardo-Barro effect would show that
A) government budget deficits have no effect on the real interest rate or investment. B) higher government budget surpluses decrease investment. C) higher government budget deficits decrease investment. D) higher government budget deficits raise the real interest rate. E) government budget deficits increase household consumption.
From 1979 to 2011, which country had the highest growth rate of GDP per hour of work?
A. Singapore B. United Kingdom C. France D. Japan
Hyperinflation can be defined as an inflation rate of
A) 50% or more per month. B) 50% or more per year. C) 50% or more decade. D) All of the above are appropriately defined as hyperinflation.
If Korea is capable of producing either shoes or soccer balls or some combination of the two, then
a. Korea should specialize in the product in which it has an absolute advantage. b. it would be impossible for Korea to have an absolute advantage over another country in both products. c. it would be difficult for Korea to benefit from trade with another country if Korea is efficient in the production of both goods. d. Korea's opportunity cost of shoes is the inverse of its opportunity cost of soccer balls.