The World Trade Organization (WTO) promotes foreign trade and investment, or globalization. In recent years opposition to globalization has led to violent protests at meetings of the WTO. All of the following are reasons for these anti-globalization
protests except
A) protestors believe the WTO favors the interests of high-income countries at the expense of lower-income countries.
B) protesters believe that tariffs are needed to protect domestic firms from foreign competition.
C) protesters believe that free trade destroys the distinctive cultures of many countries.
D) protesters object to the loss of intellectual property (such as software programs and movies) that results from foreign trade and investment.
Answer: D
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The diminished employment prospects for the graduates of 2002 is most likely due to the existence of a(n)
a. inflationary gap. b. significant increase in real GDP. c. shift of the aggregate demand curve outward. d. recessionary gap.
Suppose two companies, Macrosoft and Apricot, and considering whether to develop a new product, a touch-screen t-shirt. The payoffs to each of developing a touch-screen t-shirt depend upon the actions of the other, as shown in the payoff matrix below (the payoffs are given in millions of dollars). 
Suppose Apricot makes its decision first, and then Macrosoft makes its decision after seeing Apricot's choice. What will be the equilibrium outcome of this game?
A. Apricot will develop a touch-screen t-shirt, and Macrosoft will not. B. Macrosoft will develop a touch-screen t-shirt, and Apricot will not. C. Neither Apricot nor Macrosoft will develop a touch-screen t-shirt. D. Both Apricot and Macrosoft will develop a touch-screen t-shirt.