Specialization and trade exploit differences in productivity across workers and
A) make everyone better off. B) only benefit the importer.
C) make everyone worse off. D) only benefit the exporter.
A
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The M2 measure of money consists of the sum of:
A. currency, checking and savings deposits. B. M1, savings deposits, small time deposits, and money market mutual funds. C. savings deposits, small time deposits, and money market mutual funds. D. currency, checking and savings deposits, and small time deposits.
Consider a downward-sloping demand curve. When the price of a normal good decreases, the income and substitution effects
A) work in the same direction to increase quantity demanded. B) work in the same direction to decrease quantity demanded. C) work in opposite directions and quantity demanded increases. D) work in opposite directions and quantity demanded decreases.
Gross domestic product (measured in real dollars) is an important social tool because it provides
What will be an ideal response?
The ________ the reserve ratio, the ________ the money multiplier
A) smaller; smaller B) smaller; larger C) larger; larger D) None of the above are correct.