The International Court of Justice (ICJ) is the primary international court, also referred to unofficially as
a. Nuremburg.
b. the International Criminal Court.
c. the Dispute Settlement Body.
d. the World Court.
d. the World Court.
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If the aggregate demand curve shifts to the left in the short run then the long-run equilibrium will be at a:
A. higher price level and higher level of output. B. higher price level and lower level of output. C. lower price level and same level of output. D. lower price level and lower level of output.
Which of the following is true of minimum-wage laws?
a. They affect skilled workers' wages. b. They create above-equilibrium wages for some unskilled workers. c. They create a shortage of unskilled labor. d. They negatively affect the employment of skilled workers.
Economists argue that unhindered international trade leads to an efficient outcome. What is meant by "an efficient outcome" in this context?
A. an outcome in which an individual can choose to specialize in a certain line of work and be certain that he or she can make a living at that until retirement B. an outcome in which resources are devoted to their most efficient use C. an outcome in which wages are roughly equal around the world D. an outcome in which the standard of living is roughly equal around the world
Embodied technical change results in
A. an increase in physical capital. B. disembodied technical change. C. a decrease in labor productivity. D. an improvement in the quality of capital.