Brazil should
A. specialize in the production of coffee and import hot dogs from Colombia.
B. specialize in the production of hot dogs and import coffee from Colombia.
C. import both coffee and hot dogs from Colombia.
D. not engage in trade with Colombia, but produce both coffee and hot dogs domestically.
A. specialize in the production of coffee and import hot dogs from Colombia.
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In order to analyze the factors that determine the quantity of real GDP demanded, in the aggregate expenditure model we assume that
A) real GDP does not change. B) the unemployment level is fixed. C) the inflation rate is assumed to equal the natural unemployment rate. D) the natural rate of unemployment is fixed. E) the price level is fixed.
At the time of the American Revolution, the Industrial Revolution first launched in
(a) France. (b) Germany. (c) England. (d) Spain.
A nation's currency consists of its
a. coins and Eurodollars b. paper money and checks c. coins and paper money d. paper money and Eurodollars e. coins and checks
Which of the following statements is true about the U.S. economy?
A. The United States produces less than one-third as much as Japan does. B. The United States has the world's third largest economy. C. The United States produces less than half as much as China does. D. The United States produces nearly one-fifth of the world's production.