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What is the purpose of the World Trade Organization (WTO)?

• Military cooperation

• Economic development

• International trade regulation

• Humanitarian aid

Which financial ratio measures a company's ability to meet its short-term obligations?

• Debt-to-Equity ratio

• Current ratio

• Price-to-Earnings ratio

• Return on investment

1. What is the term for a situation where a company's debts exceed its assets?

a. Solvency

b. Liquidity

c. Insolvency

d. Profitability

• Solvency

• Liquidity

• Insolvency

• Profitability

In behavioral economics, what does the "Endowment Effect" suggest?

• People value things more highly simply because they own them

• Economic growth is driven by investments in education

• Individuals are rational decision-makers in all situations

• Consumer preferences are consistent over time

In the context of international finance, what is the "Impossible Trinity"?

• A theory that nations cannot simultaneously have fixed exchange rates, free capital movement, and an independent monetary policy

• The idea that all economic problems can be solved through technological advancements

• A framework for achieving perfect competition in global markets

• The concept that economic growth is impossible without political stability

Which Nobel laureate is known for his work on contract theory and contributions to the understanding of incentives and risk?

• Robert Shiller

• Eugene Fama

• Oliver Hart

• Daniel Kahneman

Which economic term refers to the simultaneous occurrence of inflation and high unemployment?

• Hyperinflation

• Stagflation

• Deflation

• Recession

Who is the author of the book "Capital in the Twenty-First Century," which explores the dynamics of wealth and income inequality?

• Thomas Piketty

• Amartya Sen

• Joseph Stiglitz

• Paul Krugman

Who is the current Director-General of the World Trade Organization (WTO)?

• Ngozi Okonjo-Iweala

• Roberto Azevêdo

• Pascal Lamy

• Michael Froman

What is the economic concept described by the phrase "The Tragedy of the Commons"?

• Market failure

• Monopoly power

• Resource depletion

• Regulatory capture