When a nation starts opening up to international trade, it will see falling prices for
A. goods that it imports.
B. all goods traded.
C. goods that it exports.
D. goods that it has a comparative advantage in.
Answer: A
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A guild is
A) an organization of producers that limits the amount of a good produced. B) a nation that is a free-market benchmark. C) a group of independent producers competing with each other. D) a group of nations who agree not to compete with each other.
Which of the following is a cause of higher birth rates in developing countries?
a. Children are viewed as a source of farm labor b. Children are viewed as economic and social security as the parents age c. Higher child mortality rates engender higher birth rates d. All the answers are correct e. None of the answers is correct
A consumer who buys any amount of a good will realize a positive consumer’s surplus from that good.
Answer the following statement true (T) or false (F)
Automatic stabilizers
A. Are zero at full employment. B. Help to moderate the extremes of the business cycle. C. Cause spending to decrease during a recession. D. Are included in discretionary fiscal spending.