An international conference in Bretton Woods, New Hampshire, in 1944 resulted in the formation of:
a. the European Union in 1945.
b. the Kyoto Agreement in 1971.
c. the General Agreement on Tariffs and Trade (GATT) in 1947.
d. the International Red Cross in 1955.
Ans: c. the General Agreement on Tariffs and Trade (GATT) in 1947.
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Adam Smith believed that the goal of economic activity is to amass wealth in the form of gold, and that this could best be accomplished through government carefully using tariffs and quotas to fashion favorable terms of trade with its trading partners
a. True b. False Indicate whether the statement is true or false
Lack of access to sanitation and inadequate medical care have a negative impact on the development of human capital.
Answer the following statement true (T) or false (F)
Why are modern coins not made of precious metals?
What will be an ideal response?
The population of Omega totals one million people, 30 percent of whom are employed. Average output per worker in Alpha is $30,000. Real GDP per person in Alpha totals:
A. $9,000. B. $100,000. C. $21,000. D. $30,000.