Which is true regarding cyclical unemployment?
i) Cyclical unemployment is positive at business cycle peaks.
ii) Cyclical unemployment is negative at business cycle troughs.
iii) Cyclical unemployment is zero at full employment.
A) iii only B) i and ii C) i and iii D) i, ii and iii E) i only
A
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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
According to Adam Smith's invisible hand principle, productive actions that promote the general welfare of society will be undertaken when
a. workers are able to organize and develop strong unions. b. competitive markets direct the actions of self-interested individuals. c. the selfish instincts of individuals are controlled. d. political representatives are elected democratically.