Which Is the Fourth Largest Trading Bloc After the EU

question 44

Multiple Choice

Which is the fourth largest trading bloc after the EU, NAFTA, and ASEAN and established in 1991?

• A)SAARC
• B)ASEAN
• C)NAFTA
• D)MERCOSUR

Differentiate between types of unemployment and their relation to the economy's potential output.

Analyze the impact of supply shocks on the aggregate supply curve.

Grasp the effects of expansionary and recessionary gaps on the economy.

Explain the role of price levels in determining short-run economic expansion or contraction.

---

Definitions:

Tax

Mandatory financial charges imposed by a government on individuals, corporations, or transactions to fund public expenditures.

Good

A tangible product or service that satisfies some human desire or need, which can be bought or sold.

Units

Basic quantities or measurements used as standards for expressing and comparing the quantity of physical properties.

Tax

Tax refers to a compulsory financial charge or some other type of levy imposed upon a taxpayer by a government organization in order to fund government spending and various public expenditures.