The case for ________ is based on the theory of comparative advantage.
A. export subsidies
B. free trade
C. tariffs
D. quotas
Answer: B
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Country risk analysis involves a consideration of only economic factors
Indicate whether the statement is true or false
Activists hold that
A) activist monetary policy is flexible. B) nonactivist monetary policy is inflexible. C) the economy does not always return quickly enough to full-employment output. D) a and b E) all of the above
Mr. Garrison has recently obtained a bank card from South Park National Bank. Excited about the concept of using a little plastic card to get money from a machine, he quickly runs down to the nearest ATM and withdraws $500. This action has:
A. increased the money supply by $500. B. reduced the money supply by $500. C. reduced the bank's required reserves by $25 assuming the reserve ratio is 5 percent. D. not changed the money supply.
Refer to the figure. In the market for medium cheese pizzas, the equilibrium price is
A. $0.50. B. $5. C. $8. D. $10.