When a country that imported a particular good abandons a free-trade policy and adopts a no-trade policy,
a. consumer surplus increases and total surplus increases in the market for that good.
b. consumer surplus increases and total surplus decreases in the market for that good.
c. consumer surplus decreases and total surplus increases in the market for that good.
d. consumer surplus decreases and total surplus decreases in the market for that good.
d
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During an inflationary gap,
A) the aggregate demand curve and the aggregate supply curve intersect at a level of real GDP that exceeds potential GDP. B) the aggregate demand curve and the aggregate supply curve intersect at potential GDP. C) the aggregate demand curve and the aggregate supply curve do not intersect. D) real GDP is less than potential GDP. E) the price level will fall to restore the long-run equilibrium.
Specialization describes the occurrence when a country shifts resources to focus on producing a good that offers ____________ advantage and the lowest opportunity cost.
a. marginal b. comparative c. minimal d. profit
the federal open market committee
What will be an ideal response?
Refer to the Article Summary. In 2015, the European Union initiated the BRRD program, where the burden of bailing out troubled banks is being placed on bank creditors, shareholders, and possibly depositors
If this program were to confiscate funds from bank deposits to assist troubled banks, the possibility of a bank run, a situation in which ________, would likely increase. A) a majority of the shareholders in a bank decide to sell off all their shares of stock. B) many depositors simultaneously decide to withdraw money from a bank. C) a bank stops paying interest on all of its interest-bearing accounts. D) a majority of the bank's loans go into default all at once.