The number of countries belonging to the World Trade Organization (WTO) currently (2013) is about
A. 159.
B. 105.
C. 128.
D. 222.
A. 159.
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Goods that are very useful and highly desired are likely to be
A) expensive if they are relatively abundant. B) inexpensive if they are relatively abundant. C) inexpensive if they are relatively rare. D) expensive no matter if they are relatively abundant or rare.
If the CPI was 132.5 at the end of last year and 137.5 at the end of this year, the inflation rate over these two years was
A) 3.6 percent. B) 3.8 percent. C) 5.0 percent. D) None of the above answers is correct.
A major problem with the implementation of an annually balanced budget is that it: a. allows the national debt to burgeon with chronic deficits
b. relies upon government officials to budget for surpluses during economic booms in order to cover deficits during recessions. c. requires annual revenues to match with outlays even during times of war, when there is a sudden increase in military expenditures. d. magnifies the fluctuations in the business cycle. e. dampens swings in the business cycle.
The Department of Justice generally
a. is not involved in merger policy. b. opposes horizontal mergers but permits conglomerate mergers. c. opposes only mergers that might reduce competition. d. opposes mergers whose apparent motive is obtaining economies of scale.