Which statement is true?
A. A country like Japan would go to the World Bank to borrow currency to stabilize the yen.
B. The WTO has a Dispute Settlement Body to handle trade disagreements among member nations.
C. GATT was established at the end of the Great Depression.
D. The IMF was set up to aid developing countries build infrastructure.
B. The WTO has a Dispute Settlement Body to handle trade disagreements among member nations.
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The reservation value of a buyer reflects her ________
A) willingness to pay for a good or service B) trade-off between buying various goods and services C) total utility from a good or service D) total income
Which of the following is a key difference between the dictator game and the ultimatum game?
A. The dictator game is played with real money; the ultimatum game is played with hypothetical money. B. In the dictator game, one person has total control over the split; in the ultimatum game, both players have to agree to the split. C. Results of dictator game experiments reveal that people don't care about fairness; results of the ultimatum game indicate that they do care. D. There is no difference between them; they are simply different names for the same game.
The number of central banks that exist in the world today is:
A. over 50 but less than 100. B. less than 10. C. about 250. D. over 180.
Give a brief definition of fiscal policy. What are its economic goals?
What will be an ideal response?