<u> B) World Trade Organization</u>
The World Trade Organization is a global international organization dealing with the rules of trade between nations. Its main goal is to help countries conduct their abroad business, it does so by providing a place where governments settle trade disputes and negotiate trade agreements, based on a system of trade rules.
This organization is comprised of 164 countries, in which all members participate in major-decision making. They usually meet at least once every two years.
After World War 1 Japan began to take large amounts of resources from its colonies, including the Koreas.
Answers:
<u>Adam Smith
</u>
- Competition is a regulatory force.
<u>Friedrich von Hayek
</u>
- Less government intervention gives people more economic freedom.
<u>Milton Friedman</u>
- Government should not control the money supply.
<u>John Maynard Keynes
</u>
-
Government intervention is necessary for stability.
Explanation:
Adam Smith's landmark work on <em>The Wealth of Nations </em>(1776) argued against government control of commerce and advocated for competition between business as a self-regulating sort of force.
Friedrich von Hayek's 1944 book <em>The Road to Serfdom </em>was an influential work of classical liberalisn in economics (what today we'd more likely call libertarianism).
Milton Friedmen was skeptical about the value of the Federal Reserve controlling the money supply.<em> Capitalism and Freedom </em>is a collection of his influential essays, published in 1962.
John Maynard Keynes proposed that increasing government expenditures and lowering taxes would stimulate demand and pull the economy out of a state of depression. His approach was adopted by President Franklin D. Roosevelt's New Deal program, which sought to bring the United States out of the Great Depression.
According to the key provisions of the Sherman Antitrust Act, trusts and monopolies were "illegal" since they greatly hurt the productivity of business as well as consumer choice within the economy.
