What is the basic function of the World Trade Organization?
A. To collect information on the imports and exports of nations and issue a world report on the conditions of trade
B. To monitor trade between the three major trading nations of the world economy, the United States, Germany, and Japan
C. To oversee trade agreements reached by member nations and rule on trade disputes among these nations
D. To conduct meetings for major multinational corporations so that they can increase the amount of investment and trade in the global economy
C. To oversee trade agreements reached by member nations and rule on trade disputes among these nations
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It is difficult for competent authorities to agree on the best definition of the money stock because money is composed primarily of the liquid liabilities of financial institutions
A) and liquidity implies the absence of certainty. B) of which there are many different kinds whose relative liquidity is continually changing. C) on which we simply have no reliable data. D) whose solvency is highly questionable.
Government spending as a percent of national income
A) peaked during the Reagan administration. B) peaked during World War II. C) has been steadily climbing since 1850. D) has been almost constant this century.