According to Prebisch and other ISI theoreticians, countries should begin to shift their comparative advantage away from primary commodity production by first producing
A) industrial goods such as pumps and generators.
B) complex consumer goods such as autos and appliances.
C) advanced industrial goods such as chemical and electronics.
D) simple consumer goods such as food products and textiles.
E) minerals and agricultural products.
D
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If the Fed engages in quantitative easing, it has likely
A) started paying interest on required reserves. B) increased the federal funds rate by selling private securities. C) increased the discount rate to prevent inflation. D) decreased the discount rate by selling its own securities. E) decreased the federal funds rate to almost zero by buying large sums of securities.
If a technological change lowers the wage of unskilled workers, it is an example of:
A) a skill-biased technological change. B) an unskilled-biased technological change. C) a preferential-biased technological change. D) a statistical-biased technological changes.
Sovereign debt crisis, a short-run phenomenon, may lead to the long-run consequence of debt ________
A) intolerance B) distortion C) seignorage D) repudiation
Other things the same, if foreign companies desired to buy more U.S. medical equipment and U.S. residents desired to buy more foreign bonds
a. net exports and the exchange rate would rise. b. net exports would rise, but what would happen to the exchange rate is uncertain. c. net exports would fall, but what would happen to the exchange rate is uncertain. d. net exports and the exchange rate would fall.