The WTO functions as:
A. The enforcer of trade rules for the world.
B. An international informant on terrorism.
C. An international weapons inspector.
D. The international authority on currency exchange.
A. The enforcer of trade rules for the world.
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According to this Application, the prices which were tracked in the retail catalogs exemplified the macroeconomic concept of the short run, a period of time in which
A) prices change frequently because of changes in aggregate supply. B) prices don't change very much, implying that the aggregate supply curve is relatively flat. C) prices never change because the aggregate demand curve is vertical. D) price changes are significant because the aggregate supply curve is vertical.
In practice, increases in government spending in an open economy can crowd out
A) net exports. B) consumption. C) investment. D) all of the above
Which of the following is a likely consequence of a fall in private investment?
A) Mortgage defaults fall. B) Asset prices rise. C) Labor supply falls. D) Consumption falls.
Which of the following is not part of the investment component of GDP?
a. residential construction b. plant, equipment, and software c. net imports d. business structures