In 2003, the WTO ruled that U.S. tariffs on ________ were unfair and allowed retaliatory tariffs on U.S. products.
A. diamonds imported from South Africa
B. beef imported from Argentina
C. steel imported from the EU
D. automobiles imported from Japan
Answer: C
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The government might engage in expansionary fiscal policy if it wanted to
A) shift the aggregate demand curve to the left. B) reduce the level of unemployment. C) reduce real GDP. D) reduce the price level.
Refer to Figure 9.2. A movement from point a to point b could be caused by a(n)
A) increase in government spending. B) decrease in the price of oil. C) decrease in taxes. D) decrease in short-run aggregate supply.
Given a desired reserve ratio of 20 percent, a commercial bank that has received a new deposit of $100 can make additional loans of
A) $0. B) $20. C) $80. D) $120.
Which of the following is TRUE?
a. Maximizing division profits always leads to maximizing company-wide profits b. Managers of profit centers are not given any discretion in their decision making c. Profit centers usually require the highest degree of attention of corporate executives d. A manager being rewarded on division revenues has the most incentive to make good decisions for his division