Which theory does NOT support unrestricted free trade between countries
What will be an ideal response?
mercantilism
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Starting from long-run equilibrium, a large decrease in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; lower; potential B. expansionary; higher; potential C. recessionary; lower; potential D. recessionary; lower; lower
An unexpected drop in the LEI should send bond prices __________ and stock prices __________
A) up; up B) up; down C) down; up D) down; down
One reason that U.S. exports of commercial services have increased steadily over the past 25 years is that
A) European and Asian nations have shown little interest in developing their own commercial services sectors. B) the United States has made significant investments in new information technologies. C) the U.S. government owns and operates most of the economy's service sector. D) the U.S. economy operates like one big corporation.
You and two partners start a company. However, your partners play no role in running the company. You spend all your time managing the business. The time that you could have spent working for someone else and earning wages instead of running the business is your: a. explicit cost
b. marginal cost. c. sunk cost. d. opportunity cost.