What is the basic function of the World Trade Organization?
A. To collect information on the imports and exports of nations and issue a world report on the conditions of trade
B. To monitor trade between the three major trading nations of the world economy, the United States, Germany, and Japan
C. To oversee trade agreements reached by member nations and rule on trade disputes among these nations
D. To conduct meetings for major multinational corporations so that they can increase the amount of investment and trade in the global economy
C. To oversee trade agreements reached by member nations and rule on trade disputes among these nations
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Critically evaluate the statement "Honolulu is an expensive place to live. Therefore the inflation rate must be high in Honolulu."
What will be an ideal response?
If quantity of tea is measured on the horizontal axis and quantity of coffee is measured on the vertical axis, an increase in the price of coffee will cause the budget constraint to:
A) pivot leftward along the vertical axis. B) pivot rightward along the vertical axis. C) pivot leftward along the horizontal axis. D) pivot rightward along the horizontal axis.
People who are risk averse
A) value a collection of assets only on the basis of its expected returns. B) value a collection of assets only on the basis of the risk of that return. C) value a collection of assets not only on the basis of its expected returns but also on the basis of the risk of that return. D) are less likely to invest in life insurance. E) are less likely to have a diverse portfolio.
If a bank needs to acquire funds quickly to meet an unexpected deposit outflow, the bank could
A) borrow from another bank in the federal funds market. B) buy U.S. Treasury bills. C) increase loans. D) buy corporate bonds.