What organization emerged from the GATT, starting January 1, 1995, with expanded responsibilities and global interaction?
a. the Doha round
b. the World Trade Organization
c. the United Nations
d. the Institute for International Economics
Ans: b. the World Trade Organization
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Based on the figure below. Starting from long-run equilibrium at point C, a decrease in government spending that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at__ creating _____gap.
A. B; no output B. D; an expansionary C. B; recessionary D. D; a recessionary
A mortgage loan that would allow a borrower to pay less than the full interest accrued on the debt over the first few (typically five or ten) years of the mortgage could be called
A. a "negative-amortization" mortgage. B. a "zero-interest" mortgage. C. an "interest-only" mortgage. D. all of the options are correct.