Answer to Question 1
An ideal response will:
1. Describe the World Trade Organization (WTO) and how its formation ended the General Agreement on Trade and Tariffs (GATT).
2. Explain how the WTO provides an international forum for reaching trade agreements and for resolving disputes among its members.
3. Note that labor unions, environmental groups, and human rights organizations worry about the negative effects of free trade, including low-wage jobs, child labor abuses, pollution, and worker abuse in foreign countries.
4. Provide a clear and concise conclusion.
Answer to Question 2
An ideal response will:
1. Explain the role of the Federal Reserve in controlling the money supply.
2. Describe how adjusting the interest rate up or down will affect the money supply.
3. Illustrate how lowering the interest rate reduces the cost of money, which makes borrowing easier, which increases spending, affects economic growth.
World oil reserves
When a Tornado Strikes: Social Organization Following a Natural Disaster
World Population Growth
Soil Erosion and Degradation in the world
Flexible exchange rates are supposed to prevent long-term trade deficits.
Broadleaf Forests on the world map