GATT stands for:
a. Good and Total Trade.
b. General Agreement on Tariffs and Trade.
c. Greater Agreements Toward Trade.
d. Gold and Trade Totals.
e. Greater Area Trade Transactions.
b
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The expected inflation rate is the inflation rate that people forecast and use to help set
A) the money wage rate. B) the real wage rate. C) real GDP. D) the natural rate of unemployment. E) the price level.
In 2007, the value of the U.S. dollar
a. increased relative to the euro. b. decreased relative to the euro. c. remained stable relative to the euro. d. was equal to the value of the euro.
In what way is the Social Security payroll tax regressive?
What will be an ideal response?
Which statement is an example of substitute goods affecting demand?
a. A bumper crop of cotton lowers the price of cotton clothing. Sales of silk shirts decrease. b. As laptop computer sales increase, so do the sales of computer cases. c. An automobile maker lays off thousands. Sales of electronic goods in that city fall. d. Hi-tech companies lure people to a region. Demand for housing rises.