All of the Following Activities or Organizations Are Designed to Support

question 45

Multiple Choice

All of the following activities or organizations are designed to support the growth of international trade EXCEPT:

• A) the General Agreement on Tariffs and Trade (GATT).
• B) the World Trade Organization (WTO).
• C) the International Trade Administration (ITA).
• D) the World Bank Group.
• E) the International Money Fund (IMF).

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Definitions:

Physical Capital

Consists of tangible, man-made objects that a business uses to produce goods or services, such as buildings, machinery, and equipment.

Short Run

A period in economics where at least one factor of production is fixed, limiting the ability of the economy or firm to adjust to changes in demand or supply.

Productive

Relating to or involving the creation of goods or services that satisfy human wants; the efficiency and effectiveness in producing outputs from inputs.

Constant Returns To Scale

A condition where increasing all inputs by any proportion results in output increasing by that same proportion, indicating that size does not affect productivity.