Today, in the United States, imports are about
A) 16 percent of GDP.
B) 32 percent of GDP.
C) 8 percent of GDP.
D) 4 percent of GDP.
Answer: A
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The impetus to form an administrative body in Europe after World War II to distribute Marshall Plan aid and coordinate trade and other common issues resulted in three organizations:
A) the WTO, the GATT, and the IMF. B) the European Payments Union, the UN, and the early roots of the European Union. C) the European Payments Union, the European Coal and Steel Community, and Euratom. D) the Eastern bloc, the Warsaw Pact, and NATO.
Which of the following explains the "beauty premium" differences in wages?
a. People who spend time on their personal appearance may send a signal that they are more productive workers. b. Personal appearance and intelligence are inversely related. c. The "superstar phenomenon" explains the "beauty premium.". d. Better-looking people are more efficient; thus, they are paid an efficiency wage.