If the world terms of trade equal those of country F, then
A) country H but not country F will gain from trade.
B) country H and country F will both gain from trade.
C) neither country H nor F will gain from trade.
D) only the country whose government subsidizes its exports will gain.
E) country F but not country H will gain from trade.
A
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An individual having an unusually good year will be on his short-run consumption function at a point ________ his long-run consumption function, with an unusually ________ saving ratio
A) above, high B) above, low C) below, high D) below, low
Suppose Jonah and Carlos have a contract, which Carlos chooses to breach. Jonah sues, and a court orders Carlos to pay him the amount he expected to gain at the time they made the contract, net of any amount he actually did receive after the breach. The form of payment which the court specifies in this example is called:
a. a contingent fee. b. a specific performance. c. a capitation. d. expectation damages.
The utility function of a risk-averse person has a
a. positive slope and gets steeper as wealth increases. b. positive slope but gets flatter as wealth increases. c. negative slope but gets steeper as wealth increases. d. negative slope and gets flatter as wealth increases.
The product of ____________________ and _________________ is equal to the total amount of spending in an economy
A) the money supply; the price level B) velocity; the price level C) the money supply; velocity D) velocity; the level of output