Which organization acts as a forum for countries to come to agreement on trade policies and resolve trade policy disputes?
a. the International Trade Organization
b. the United Nations
c. the World Trade Organization
d. the United Nations Conference on Trade and Development
Ans: c. the World Trade Organization
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No matter what banks do, when the legal reserve requirement is 20 percent, the potential money multiplier is
a. 0.2 b. 1.2 c. 2 d. 2.5 e. 5
Betty's Bakery bakes fresh bread every morning. Any bread not sold by the end of the day is thrown away. A loaf of bread costs Betty $2.00 to produce, and she prices loaves of bread at $3.50 per loaf. Suppose near the end of one day Betty still has 12 loaves of bread on hand. Which of the following is correct?
a. Betty should only sell the remaining bread for $3.50 per loaf since that is the regular price. b. Betty should only sell the remaining bread for $2.00 per loaf or more since that is what the bread costs to make. c. Betty should be willing to sell the remaining bread for any price above $0 per loaf since she will have to throw it away if she does not sell it for something. d. Betty should just throw the bread away and change the price of her bread starting tomorrow to make sure she sells all of her bread each day.