Which Organization Was Founded in 1957 Whose Objective Was to Create

question 45

Multiple Choice

Which organization was founded in 1957 whose objective was to create an economic union among its members?

• A) General Agreements on Tariffs and Trade
• B) Organization of Economic Cooperation and Development
• C) European Union
• D) Latin American Free Trade Association

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Definitions:

Real Exchange Rate

An adjusted exchange rate between two currencies that reflects the purchasing power of the two currencies; it factors in the relative prices of a standard set of goods and services in each country.

U.S. Dollar

The official currency of the United States, widely used as a benchmark in international financial transactions.

Domestic Investment

Refers to the total capital investment in an economy by its residents and businesses, excluding investments in foreign assets.

Net Capital Outflow

The difference between the purchase of foreign assets by domestic residents and the purchase of domestic assets by foreigners in an economy.