Which of the Following Is an International Agreement Governing the Arbitration

question 7

Multiple Choice

Which of the following is an international agreement governing the arbitration of private international disputes that has been ratified by the U.S.?

• A) The Hague Convention
• B) The International Arbitration Convention
• C) The French Convention
• D) The New York Convention
• E) The NAFTA Convention

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Definitions:

Potential GDP

The maximum output an economy can achieve when all resources are used efficiently and effectively, without causing inflation.

Cost-Push Inflation

Inflation that occurs when the prices of inputs such as labor and raw materials go up, causing a reduction in the supply of these products.

Expansionary Gap

A condition where an economy's real GDP exceeds its potential GDP, leading to inflationary pressures.

Recessionary Gap

A situation where the real Gross Domestic Product (GDP) is lower than the potential GDP, indicating an economy operating below its full capacity.