Write an essay on the role of the WTO in today's international economy
What will be an ideal response?
The WTO serves as a forum for trade liberalization talks, and administers an international body of trade law. Under the latter, it has outlawed certain practices and arbitrates disputes between countries over the interpretation of the code. In its former embodiment, the GATT, it has presided over a number of rounds of talks that have produced substantial reductions in tariff levels, especially in developed countries.
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As a tool that is used to measure inequality in the distribution of income, the Lorenz curve graphs
A) the cumulative percentage of income against the cumulative percentage of households. B) the percentage of total income received by each given percentage of households. C) the mean income, median income, and mode income against the percentage of households. D) the mean income received by households over time.
President Obama has discussed raising income taxes for individuals earning over $250,000 in income. Explain how these higher income taxes will affect the aggregate demand curve
What will be an ideal response?